In this piece, I evaluated two auto parts stocks, Advance Auto Parts, Inc. (AAP) and Luminar Technologies, Inc. (LAZR), to determine which one is a better investment. I believe AAP has the potential to perform better than LAZR for the reasons explained throughout this article.
Supply chain disruptions, high inflation, and rising interest rates led to a decline in the sales of light vehicles last year to their lowest level since 2012. Over 13.75 million light vehicles were sold the previous year, representing a year-over-year decline of 8% to 9%.
