MANHASSET, N.Y. – Aftermarket parts sales are expected to gain momentum in the coming months, according to the CMVC Parts Aftermarket Leading Retail Sales Indicator (PLI).
It increased 0.6% in August from July, and was 7.3% higher year-over-year, according to CMVC. The indicator rose for the 14th consecutive month and the growth rate from a year ago is increasing.
“PLI is signaling the growth rate of parts aftermarket sales will strengthen in the coming months as the truck population is operating at high utilization rates, implying trucks are depreciating at normal rates and new truck sales are above replacement demand volumes, resulting in an expansion of truck population,” said Chris Brady, president of CMVC (Commercial Motor Vehicle Consulting). “Accelerating parts aftermarket retail sales will strengthen output from parts manufacturers, as parts orders from the channels of distribution reflect expanding sales and a building of parts inventory levels in response to higher parts sales.”