ASW Conversations: Uncertainty, resilience and innovation, with Lordco Auto Parts

Lordco Auto Parts is navigating a challenging economic landscape with optimism and strategic innovation, company leaders said in the latest episode of Auto Service World Conversations.

Speaking at their annual trade show in Vancouver last month, Ian and Samantha Coates noted that while the start of the year has been softer than expected, the industry remains fundamentally strong.

“We’ve had a ton of people come through the last couple days and everyone’s excited to take advantage of the specials that we run,” said Ian, vice president of sales.

The company is, however, experiencing a slight downturn in retail, with customers becoming more cautious about spending.

“People are just really watching their pennies and looking to try to preserve that,” noted Samantha, vice president of operations.

Despite economic headwinds, Lordco sees opportunities in the aging vehicle market.

“Vehicles continue to age and that’s good for the aftermarket,” Ian explained, adding that the company is responding by providing customers with opportunities to forecast purchases and secure pricing, helping them manage economic uncertainties.

Technological innovation remains a key focus. The company has invested in upgrading its ERP platform, implementing GPS delivery tracking and developing a comprehensive e-commerce platform.

Looking forward, Lordco anticipates continued industry consolidation and the entry of younger entrepreneurs.

“We’re seeing a lot of new faces. There’s been a lot of change in ownership [with] some younger folks coming into the industry, investing in a small business. So that’s another trend I think that we’re going to continue to see,” Ian said.

They also discussed that it’s the commitment to customer service that drives the company forward.

“Our customers rely on us, and it’s a really cool thing that they do,” Ian said. “If we don’t get up every morning and do what we do, we’re going let so many people down.”

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