Motion Segment Outlook
Q: How will Motion's organic growth accelerate over the year?
A: Management expects the Motion segment's sales growth to recover and accelerate through the year due to improving market conditions and their own initiatives. They anticipate sequential improvement, particularly in the second half, driven by an expected uptick in industrial production and easing interest rates.

Rebate Program Impact
Q: How does the new rebate program affect U.S. auto sales comps?
A: The new rebate program resulted in a 130 basis point negative impact on total reported U.S. automotive sales growth in Q1. The reported sales include this adjustment, but comp sales exclude it, as the comp sales calculation excludes revenue adjustments. Without this drag, reported sales would have been positive.

Restructuring Costs and Savings
Q: What's the outlook for restructuring costs and associated savings?
A: The restructuring program will cost between $100 million to $200 million, with annualized savings slightly less than half of that. It is expected to have a two-year payback. In the first quarter, they incurred $83 million in costs, mainly from personnel and facility optimization.

Inflation Impact
Q: How is inflation affecting the business, and what's the outlook?
A: The inflation impact for the quarter was less than 1% for the entire company, including both automotive and industrial segments. The outlook is for inflation to remain at less than 1% going forward.

Acquisition of Independent Stores
Q: Will the pace of acquiring independent stores continue this year?
A: Management expects to accelerate the pace of acquiring independent stores in 2024. In the first quarter, they acquired 45 stores from independent owners, up from 33 stores in Q4 and 16 in the prior year.

Wage Inflation
Q: How is wage inflation affecting expenses?
A: The labor environment has moderated, with wage increases more in line with historical averages. The intense competition for talent seen a year ago has abated, reducing pressure on wages.

Own Brand Expansion in Europe
Q: How is the own brand expansion progressing in Europe?
A: The launch of the NAPA brand in Europe has exceeded expectations, with plans to cross the $500 million sales mark this year. The brand is expanding across Europe, including Spain.

Regional Performance and Sales Cadence
Q: How did regional performance and monthly sales cadence look?
A: Sales sequentially improved throughout the quarter, with March being very strong. The East, Mid-Atlantic, and West regions outperformed, while the Midwest and Southern regions were softer.

AutoCare vs. Major Accounts
Q: Why is AutoCare outperforming, and major accounts underperforming?
A: The company has focused on serving the AutoCare segment with excellence, leading to strong traction and growth. Major accounts are diverse and have been impacted by a cautious consumer, leading to underperformance.

Independent Owners' Buying Behaviors
Q: What's driving positive buying behaviors from independent owners?
A: Initiatives and programs are being extended to independent owners, helping them improve operations and inventory, which is positively impacting their buying behaviors.