U.S. aftermarket parts sales recovering, analyst says
MANHASSET, N.Y. – Aftermarket parts sales appear to be climbing upward in the U.S. after eight consecutive monthly declines, according to Commercial Motor Vehicle Consulting’s Aftermarket Sales Leading Indicator.
The measure bumped up 0.4% in October following a 0.3% increase in September. That, says the source behind the numbers, signals increasing aftermarket sales in coming months.
It’s not all good news. The October measure was still down year over year.
“The re-opening of the economy spurred trucking activity, but the freight recovery has been uneven,” says Chris Brady, president of Commercial Motor Vehicle Consulting. Demand for oilfield services is down, and industrial production is lower than it was last year at this time, he said.
“In spite of an uneven freight recovery, Class 8 truck utilization has recovered to within a normal operating range, implying the Class 8 truck population is depreciating at normal rates –stimulating parts aftermarket sales.”
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