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Auto parts stock prices plummet in wake of Amazon plan

The stock prices of auto parts retailers sank on Monday in the wake of The Post exclusive that Amazon was revving up the competition.

O’Reilly Automotive shares fell 3.3 percent, AutoZone shares declined 4 percent, Genuine Parts Co. sank 3.5 percent and Advance Auto Parts gave up 2.2 percent.

Triogem Asset Management’s Tim Seymour said Monday on CNBC that Amazon “definitely has an opportunity to disrupt this industry.”

He added, “I don’t know why this industry is any different” from any of the others Amazon has disrupted.

Amazon could grow its auto parts business by 60 percent, to $5 billion, in 2017, one analyst forecast.

Autozone, Inc. (AZO) Stock Price

 714.16 ▼7 (0.97%)
March 27, 2017 4:00pm EST, New York Stock Exchange

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