Why the Bapcor Ltd (ASX:BAP) share price just printed a record high

Automotive aftermarket company Bapcor Ltd (ASX:BAP) is sitting at a 52-week high at the time of writing – up 0.5% to $6.84.

The auto industry is having a decent run at the moment and Bapcor’s strategic focus is seeing it work to grow its product range while staging a global expansion.

Bapcor’s aim is to have five Asian stores open by Christmas and this could be a lucrative pipeline for growth.

At last month’s Macquarie conference Bapcor reaffirmed its “trade focused” core business to log full year NPAT on guidance and a belief potential negative impacts of Amazon’s entry into the Australian online market place “may be an opportunity”.

Bapcor also said it would be “well-placed” to supply electronic car components when demand requires it – addressing further rumours of headwinds for the company when electric cars replace mechanical engines.

Another auto stock to watch at present is ARB Corporation Limited (ASX: ARB) with its overseas growth picking up pace.

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Motley Fool contributor Carin Pickworth has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Bapcor. The Motley Fool Australia has recommended ARB Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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