Here are 1-3 brief analogies for LKQ:

• Grainger for auto parts.
• Carvana for car parts.

• Recycled OEM Auto Parts: Salvaged, inspected, and warrantied original equipment manufacturer parts from end-of-life vehicles.
• Aftermarket Auto Parts: New, non-OEM collision and mechanical parts that serve as cost-effective alternatives for vehicle repair.
• Refurbished OEM Products: Original manufacturer parts, such as engines, transmissions, and wheels, professionally restored to functional condition.
• Specialty Vehicle Parts & Accessories: Aftermarket products for a wide array of vehicles including recreational vehicles, performance cars, and trucks.
• Automotive Paint & Body Shop Supplies: A comprehensive range of tools, paints, and consumables for professional vehicle repair and refinishing.

LKQ Corporation (Symbol: LKQ) Major Customers

• Collision Repair Centers: These are body shops and auto repair facilities that specialize in repairing vehicles damaged in collisions. They are major purchasers of LKQ's recycled, aftermarket, refurbished, and remanufactured parts.
• Mechanical Repair Shops: This category includes independent garages, franchised service centers, and new car dealership service departments that perform maintenance and mechanical repairs on vehicles. They source a wide range of parts from LKQ.
• Specialty Product Retailers and Wholesalers: These customers distribute and sell aftermarket accessories, performance parts, and other specialty products for vehicles.

Justin L. Jude, President and Chief Executive Officer

Mr. Jude became President and Chief Executive Officer of LKQ Corporation in July 2024, after serving as Executive Vice President and Chief Operating Officer since January 2024. He has been with LKQ since February 2004, holding various leadership roles including Senior Vice President of Operations – Wholesale Parts Division from 2015 to 2023, President of Keystone Automotive Operations, Inc. from 2014 to 2015, Vice President of North America's Information Systems from 2011 to 2014, and Vice President of Supply Chain from 2008 to 2011.

Rick Galloway, Senior Vice President and Chief Financial Officer

Mr. Galloway has served as Senior Vice President and Chief Financial Officer of LKQ Corporation since September 2022. Prior to this role, he was the Chief Financial Officer of LKQ's Wholesale - North America and Self Service segments since 2019. Before joining LKQ, Mr. Galloway held various positions at Alcoa Corporation from 2010 to 2019, and he began his career in public accounting as an auditor with Grant Thornton.

Varun Laroyia, Chief Executive Officer and Managing Director of LKQ Europe

Mr. Laroyia was appointed Chief Executive Officer and Managing Director of LKQ Europe in September 2022. Prior to this, he served as LKQ Corporation's Executive Vice President and Chief Financial Officer from October 2017 to September 2022. Before joining LKQ, he was the Chief Financial Officer of CBRE's Global Workplace Solutions (GWS) business since 2015, following CBRE's acquisition of the GWS business from Johnson Controls Inc. (JCI). At JCI, he held various positions including Chief Financial Officer and Vice President of Information Technology. Mr. Laroyia also held leadership positions at Gateway, Inc., General Electric, and KPMG in Europe and North America. As of November 2024, Mr. Laroyia joined Aptiv PLC as Chief Financial Officer.

John R. Meyne, Senior Vice President and President of Wholesale - North America

Mr. Meyne became Senior Vice President of LKQ Corporation and President of Wholesale – North America in January 2024. He has been an LKQ team member since 2009. Mr. Meyne started his career in the industry with Keystone Automotive Industries in 1987, and he previously founded his own aftermarket collision parts company, which was acquired by LKQ in 2009.

Genevieve L. Dombrowski, Senior Vice President, Human Resources

Ms. Dombrowski serves as the Senior Vice President of Human Resources at LKQ Corporation.

Increasing original equipment manufacturer (OEM) control over vehicle repair and parts supply, primarily through proprietary software, diagnostic tools, and parts serialization. This trend restricts the "Right to Repair" for independent mechanics and aftermarket suppliers.

This emerging threat is evident in ongoing legislative battles, such as those related to Massachusetts' Right to Repair law, and in the increasing technological complexity of modern vehicles, particularly Electric Vehicles (EVs) and those equipped with Advanced Driver-Assistance Systems (ADAS). OEMs are increasingly implementing practices that make it difficult for independent repair shops to access necessary diagnostic information, software updates, and even to install non-OEM parts without extensive calibration or OEM authorization. If independent repair shops cannot easily diagnose, repair, or source alternative parts for a growing segment of the vehicle fleet, their viability will decrease. This would directly reduce the demand for LKQ's products (recycled, remanufactured, and new aftermarket parts) by forcing consumers and insurers towards more expensive OEM parts and dealer-only repairs. This structural shift in control over the automotive repair ecosystem poses a fundamental challenge to LKQ's business model, similar to how Netflix challenged Blockbuster's distribution model or the iPhone disrupted BlackBerry's integrated hardware-software strategy.

LKQ Corporation operates in several key addressable markets for its main products and services, primarily within the automotive aftermarket industry. These markets include the global automotive aftermarket, the North American and European automotive aftermarket for replacement and specialty parts, the global automobile parts recycling market, the U.S. specialty equipment market, and the global heavy-duty automotive aftermarket.

• The global automotive aftermarket was valued at approximately USD 468.91 billion in 2024 and is projected to reach USD 589.01 billion by 2030, growing at a compound annual growth rate (CAGR) of 3.8% from 2025 to 2030. Another estimate places the global automotive aftermarket at USD 1,121.69 billion in 2024, with a projection to reach USD 4,214.19 billion by 2034, accelerating at a CAGR of 5.62% from 2025 to 2034.
• For North America, the automotive aftermarket industry size was estimated at USD 108.73 billion in 2024 and is projected to grow at a CAGR of 2.5% from 2025 to 2030, reaching approximately USD 127.51 billion by 2030. Specifically, the U.S. aftermarket automotive parts and components market is expected to reach USD 229.31 billion in 2025 and grow to USD 283.45 billion by 2030 with a CAGR of 4.33%.
• In Europe, the automotive aftermarket market size was valued at USD 136.04 billion in 2024 and is anticipated to reach USD 236.76 billion by 2033, growing at a CAGR of 6.35% from 2025 to 2033. Another report indicates the European automotive aftermarket market was valued at USD 201 billion in 2023 and is expected to increase to USD 248.89 billion by 2030, with a projected CAGR of 3.1% from 2024 to 2030.
• The global automobile parts recycle market was valued at approximately USD 35.41 billion in 2023 and is expected to grow to USD 65.24 billion by 2033, at a CAGR of 6.30% during the forecast period. Another source reports the global automotive recycled parts market size as USD 65.2 billion in 2024, forecasted to hit USD 112.7 billion by 2033, growing at a CAGR of 6.3%.
• The U.S. automotive specialty-equipment market, which is a subset of the entire automotive aftermarket and includes performance parts and accessories, is projected at over USD 53 billion in 2025. Sales in this market grew to USD 52.3 billion in 2023.
• The global heavy-duty automotive aftermarket was valued at USD 145.68 billion in 2024 and is projected to reach USD 190.24 billion by 2033, exhibiting a CAGR of 3.01% from 2025-2033.

LKQ (symbol: LKQ) is expected to drive future revenue growth over the next 2-3 years through several key initiatives and market trends:

1. Growth in the Specialty Segment: The Specialty segment has demonstrated renewed strength, achieving a 9.4% increase in organic revenue in the third quarter of 2025. This marks its first positive organic growth in 14 quarters and is identified as a potential key driver for future expansion.
2. Continued Market Share Gains in North American Wholesale: LKQ has consistently outperformed the declining repairable claims market in North America, indicating successful strategies for gaining market share. Continued focus on this segment and leveraging its market position are anticipated to contribute to revenue growth.
3. Expansion of Aftermarket Parts Utilization, especially in Europe: A significant secular trend involves the increasing utilization of aftermarket parts, with insurance companies increasingly approving their use. Europe, in particular, presents a substantial growth opportunity as aftermarket part utilization is currently under 10% in the region.
4. Benefits from Enhanced Operational Efficiency and a Leaner Operating Model: LKQ is actively pursuing aggressive cost reductions, operational streamlining, and the implementation of a leaner operating model, particularly in Europe. These efforts, including SKU rationalization and a major Europe systems rollout planned for early 2026, are expected to not only improve margins but also drive more profitable revenue growth in the future by enabling the company to capture opportunities more effectively.

Share Repurchases

• LKQ repurchased approximately $360 million of its common stock in 2024.
• In October 2024, LKQ's Board of Directors authorized a $1 billion increase and a one-year extension to its stock repurchase program, bringing the total authorization to $4.5 billion through October 25, 2026.
• As of December 31, 2024, an aggregate balance of $1.7 billion remained authorized for potential additional repurchases through October 25, 2026.

Share Issuance

• No significant large-scale share issuances for capital raising purposes were identified in the period.

Outbound Investments

• LKQ completed the acquisition of Digraph in July 2023, and Uni-Select in February 2023.
• By January 2022, LKQ Corporation secured the outstanding 61% share in Rhiag Group, achieving complete ownership.
• The company divested its Self Service segment on September 30, 2025, and certain operations in Slovenia, Poland, and Bosnia in 2024 to align with strategic objectives.

Capital Expenditures

• Capital expenditures totaled $311 million in 2024 and $358 million in 2023.
• LKQ's investing activities in 2024 resulted in a net cash outflow of approximately $500 million, primarily due to acquisitions and capital expenditures.
• The "1 LKQ Europe plan" includes transformation capital expenditures for long-lived assets such as software and facilities, with expected costs ranging from $125 million to $155 million from 2024 through the projected completion date in 2027.