I've been looking at this automotive replacement (and accessories) business for a while as a "Pooring of America" theme. This could be both a cyclical (recession) and indeed potentially secular (if American's start increasing their savings rates and not flip cars every 3 years) play.

I have yet to pull the trigger but here are the charts of the main candidates on this thesis. I am quite familiar with these companies as I worked in a supplier who sold into these businesses early this decade. The top two have the better charts of the foursome...

Market leader, "best in breed", run by Eddie Lampert - Autozone (AZO) - middle of pack valuation similar to growth rate

O'Reilly Automotive (ORLY), digesting a market consolidating purchase of CSK Auto - potential to turn those stores around can give upside - stock valuation might already reflect this

Advance Auto Parts (AAP), similar valuation to AZO

Pep Boys (PBY) - run... run far away - only for gamblers

So despite playing off the same theme - they obviously have different execution, history, reputation, and charts. Of the four, AZO and ORLY have almost identical set ups - the conservative larger cap mutual fund will flock into Autozone as it's the sure thing.