• Genuine Parts average gross margin for 2023 was 35.55%, a 1.48% increase from 2022.
• Genuine Parts average gross margin for 2022 was 35.03%, a 0.75% increase from 2021.
• Genuine Parts average gross margin for 2021 was 34.77%, a 1.55% increase from 2020.

Gross margin can be defined as a company's total sales revenue minus its cost of goods sold, divided by the total sales revenue, expressed as a percentage.