News broke earlier today on Bloomberg that The Home Depot is entering the auto parts market via a pilot program currently under way at 10 area stores in the Jacksonville, Fla., market.

Matt Nemer, analyst with Thomas Weisel Partners, LLC, told the Detroit News that he doesn’t expect to see an immediate impact, but that if the program expands nationally or if the No. 2 home-improvement retailer decides to follow suit, “parts retailers’ sales or profit could suffer.” However, another analyst from Goldman Sachs told the Atlanta Journal Constitution this was a “low risk development for auto parts retailers and a low-impact move” for Home Depot.

As for more details on the announcement, a spokesperson from The Home Depot told Aftermarket Business that currently this is only a pilot program. “Once the pilot has run for a sufficient time, we will review the results and make a decision whether or not to expand the program to additional stores,” which means they aren’t ruling out an expansion.

The spokesperson told us the stores will offer hundreds of in-stock automotive products, and will also offer products through special order, for delivery directly to the customer’s home. The selection currently includes, “electronics; appearance and maintenance products; interior accessories; auto parts; towing; truck exterior and truck protection products. Customers will find top brands such as Pennzoil, Quaker State, Armor All, Contico and Master Lock,” says the spokesperson for The Home Depot. They also tell us that the products they’ll stock will appeal to both the professional and DIY customer.

Bill Wade with consulting firm Wade & Partners, told us in an interview earlier this month that there was a great possibility that a large home retailer, like Lowe’s or Home Depot, could invest in the aftermarket since it would allow them to leverage their existing distribution technology. Time will tell how involved they do get.

Home Depot has reworked its stores to dedicate about 500 sq. feet of space to the auto section. And, they say there would be both marketing and advertising support for the pilot program, though they wouldn’t share their strategy.

Home Depot has more than 2,000 stores and news reports suggest that it occasionally experiments with new products and services: The company even plans to add four convenience stores in Tennessee this year and may expand that to 300 by 2010.