“This industry is incredibly resilient. We believe we know we’re on the right track and we’re going to continue to execute that flawlessly,” says Rhodes, who was the guest speaker at Tuesday’s Automotive Aftermarket Suppliers Association’s (AASA) Executive Breakfast.

Despite the weak economic climate, the retail giant has added $300 million in parts and products in its stores over the last 24 months, says Rhodes.

But new car sales continue to suffer, he adds. And the recent tax rebates, he says, are only a “short-term fix.”

The chain, like other retailers is facing its share of uphill battles, like many in the automotive industry. “We have to provide our customers with a compelling value proposition,” says Rhodes. “The price of a quart of oil in our store has doubled from $2 to $4.”

He adds: “We’re going to continue to grow our retail sales, we’re going to make sure we have the right parts. Most importantly we’re going to put our customers first and that makes a difference.”

Rhodes stresses the culture behind AutoZone’s success. It’s the company’s cornerstone, he notes.

The notion that everything is shifting to DIFM is somewhat of a myth, says Rhodes, but nonetheless, AutoZone continues to pursue commercial business.

“Why can’t we be bigger in DIFM than we are in DIY?” Rhodes asks. “We’re learning so much more about the commercial market.”

Despite AutoZone’s private label brands, the company is relatively new to the global sourcing game, says Rhodes. “Direct global sourcing started three years ago and it’s a very small part of what we do.”

Also at the AASA Breakfast, AASA president and COO Steve Handschuh shared the state of the aftermarket.

“It certainly has been a volatile year for the global economy,” he says. “It remains to be seen how and when the economic crisis will subside. Consumer confidence fell to an all time low in October.”

He reiterates Rhodes’ message of the decline of miles driven, the greatest decline since this figure’s been tracked.

However, repair orders have increased, and the upcoming season could bode well for the industry, Handschuh adds. “A cold winter is forecast and that could be just the push needed to turn deferred maintenance into sales.”