Motion Industries, the Industrial Parts Group for Genuine Parts Company (NYSE: GPC), reported decreased sales in both fourth quarter and full-year sales in 2024.
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Industrial sales were $2.1 billion in the fourth quarter, down 1.2% from the same period in 2023. Profit was $270 million. Full-year 2024 sales were $8.7 billion, down 1.4% from 2023. Profit was $1.1 billion.
Global automotive sales were $3.7 billion in the fourth quarter, up 6.1%.
Parent company GPC, which includes Motion and auto parts provider NAPA, reported overall sales for the fourth quarter were $5.8 billion, up 3.3% for the same period in 2023. Profit was $133 million. In 2024 sales were $23.5 billion, up 1.7%. Profit was $904 million.
“While the year presented challenges due to macroeconomic conditions and softer end-market demand, we remained focused on controlling what we could — advancing our strategic initiatives to strengthen the business and effectively managing our operations,” said Will Stengel, president and CEO.
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