The average age of a vehicle in the U.S. hit a new all-time high of 12.6 years in 2024, according to S&P Global Mobility, which should create tailwinds for auto-parts suppliers. Americans are holding onto their cars longer and longer for a variety of reasons, like the ultra-high prices of new vehicles.
This is likely one reason shares of this company are up nearly 75% over the past year. However, some hedge fund managers still see more upside ahead.
Read more hedge fund letters here
What’s particularly interesting about two of the letters I pulled on the company is that they each are particularly bullish on one of the company’s two segments, with Voss Capital favoring the Fuel Systems division and Silver Ring preferring the Aftermarket business (although Voss is also optimistic on the Aftermarket business).
With multiple hedge funds seeing upside for
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