LKQ Scores with ‘Alternative’ Car Parts
Posted on Wednesday, May 21, 2014
LKQ Corp. (LKQ), a maker of “alternative” replacement automotive parts, has gained an edge in the U.S. market by using recycled, refurbished, and remanufactured parts that cost 20% to 50% less than those of the original equipment manufacturers. At auctions LKQ recovers the wheels, bumper covers, lights, engines, and other parts from cars junked after accidents, and the company also buys devalued car parts customers returned. LKQ also offers 96,000 parts manufactured by companies other than the original manufacturer.
Auto repair shops and car insurance companies are LKQ’s primary customers, and as demand has risen in recent years, the company began expanding. LKQ recently made several key acquisitions and operational moves to position it for further growth. There are only a couple of small clouds on the horizon for LKQ. Click here to subscribe to IAS and learn more.