The company is forced to contend with extensive competition
The company experiences high competition from numerous other companies. These competitors include automobile manufacturers (including those that sell vehicle replacement parts for those built by the company itself and by other manufacturers), automotive dealers, automotive parts retail chaings and warehouse clubs. Also, the company competes with mass merchandisers and other companies that retail and distribute parts, including e-commerce retailers. In that regard, these companies all mainly compete on the basis of service offered, brand recognition, as well as product quality and price.
Competition|StructuralIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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