Growth rate of parts aftermarket sales continues to gradually decelerate

Growth rate of parts aftermarket sales continues to gradually decelerate

CMVC's Parts Aftermarket Sales Leading Indicator signals slowing growth in commercial vehicle parts sales.

Commercial Motor Vehicle Consulting’s (CMCV) Parts Aftermarket Sales Leading Indicator (PLI) decreased 0.5% in March, following a decrease of 0.8% in February, according to the organization. PLI decreased for the seventh consecutive month and the March Index was 1.1% lower than March 2022. In spite of the downward trend, the organization notes that PLI remains at a relatively high level, so is signaling slowing growth in parts aftermarket sales in the coming months.

According to Chris Brady, president, CMVC, “U.S. Class 8 fleet capacity utilization has been trending downward since July 2022, so the rate at which the truck population is depreciating is slowing causing the growth rate of parts aftermarket sales to gradually decelerate. Fleet capacity utilization remains within a normal range, as fleet capacity utilization began its descent from evaluated levels, so the truck population is depreciating at normal rates and positive vehicle demographic factors are supporting higher parts aftermarket sales.

“Parts manufacturers’ sales are growing at faster growth rates than parts aftermarket retail sales due to inventory investment within the channels of distribution, but parts manufacturers’ sales will slowly decelerate to the growth rate of parts aftermarket retail sales as parts inventories approach equilibrium. Moving forward, the risks to the parts aftermarket sales outlook are on the downside, as fleet capacity utilization risks trending downward to low levels that would result in a substantial slowdown in the rate at which the truck population is depreciating, which would more than offset positive vehicle demographic factors resulting in lower parts aftermarket sales.”

You May Also Like

Canadian grocery fleet to deploy two Volvo VNR Electric trucks

The trucks will run routes in the Montreal area for Loblaw Companies Limited.

Volvo-Loblaw-1400

Loblaw Companies Limited, a food and pharmacy retailer in Canada, has deployed two Volvo VNR Electric trucks to service its grocery stores in the greater Montreal area.

“It is a win-win opportunity to support customers who share our commitment to a sustainable future, so we are honored to be to be part of this journey with Loblaw as they work to transition their fleet to fossil-free solutions,” said Peter Voorhoeve, president of Volvo Trucks North America.

FTR: Trailer orders reach highest point of 2023

Orders were at their highest level since December 2022.

trailers-generic
Eaton Cummins Endurant XD series transmission now available at Kenworth Mexico

The automated manual transmission is now available in Kenworth T680 and T880 trucks in Mexico and Latin America. 

Endurant-XD-1400
Taking the commercial driver’s license test

After struggling with shifting, the CDL test is ahead on this episode of the Fuel Efficiency Faceoff.

Fuel-Efficiency-faceoff-3
Mercedes-Benz delivers truck with 1,000-ton towing capacity to German customer

The maximum trailer load of this Arocs SLT 4463 AS 8×6 is 1,000 tons.

Mercedes-heavy-duty-global-1400

Other Posts

United Natural Foods to deploy eCascadia and VNR Electric trucks

UNFI will combine these trucks with refrigerated trailers cooled by Carrier’s all-electric Vector eCool TRU.

United-Natural-Foods-1400
Daimler Truck delivers Freightliner eCascadias to Reyes Coca-Cola Bottling

The 20 Freightliner eCascadias are expected to result in the reduced use of 40,000 gallons of diesel fuel per year. 

Daimler-Trucks-Coke
Nicholas Trucking on cutting costs and emissions

Early success with propane-powered trucks has the fleet planning to replace more diesel trucks.

nicholas-propane-truck2-1400
Kenworth ADAS adds new features for T680

Adaptive Cruise Control Stop and Auto Go and Highway Departure Braking to Zero features are now available.

Kenworth-Donates-T680