MANHASSET, N.Y. – Aftermarket parts sales are expected to slow in the coming months, according to the latest reading from CMVC’s Parts Aftermarket Leading Retail Sales Indicator (PLI).
The PLI decreased 0.2% in January from December, marking the third consecutive monthly decline. This signals slowing growth of commercial vehicle parts aftermarket sales in the coming months.
However, the index remains at relatively high levels, so the indicator reflects slower growth. The decline is attributed to lower Class 8 fleet capacity utilization.
“PLI is signaling slowing growth in parts aftermarket sales in the coming month, but storm clouds may be developing, if Class 8 fleet capacity utilization continues to trend downward for an extended period of time,” said Chris Brady, president of CMVC. “At the moment, growth in the truck population is more than offsetting slower truck depreciation related to lower fleet capacity utilization, but if fleet capacity utilization decreases for an extended period of time then actions will be taken by fleets to bring capacity in balance with freight volumes resulting in lower parts aftermarket sales. How this plays out in the coming months relates to a number of factors, in particular the growth rate of fleet capacity expansion and the growth rate of freight volumes.”