Much to my surprise, the average American now keeps their car for a record of about 12 years.
That means the same cars are staying on the road for longer…
I find this rather interesting because I still lease my rides every three years or so. But, that’s a story for another day…
But because vehicles age out or break down, there’s room for demand and outsized gains in the top used auto parts stocks for 2022…
And that’s true even if supply chain issues resolve themselves in the near term!
2 Top Used Auto Parts Stocks for 2022
Advance Auto Parts Inc. (NYSE: AAP) is the first top used auto parts stock for 2022 on my list…
It’s a leading automotive aftermarket parts provider serving both professional and do-it-yourself installers.
Now, I brought AAP to your attention a few months back when it was trading around $223 per share…
When I sat down to film this video, it was trading around the $235 level — a nice 5.4% gain if you got in back then!
AAP’s five-year dividend growth is about 316% — which is BIG because anything over 100% means the company is making money and storing it!
With even more upside potential to go from its current levels, I have a price target of $256 per share over the next 12 weeks.
But that’s only if we experience another significant leg up from the major indexes, or if bottlenecks in chips cause new cars to remain in short supply for the next quarter… which, in my opinion, is most likely.
Check out my short video to learn more about AAP and the next top used auto parts stock for 2022 on my list.
Don’t forget to like and subscribe to our YouTube channel if you haven’t already so you can be notified as soon as we post our next video and see what other trade opportunities we’re paying close attention to!
