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What can we expect for the parts business in 2023?

Updated Feb 24, 2023

We have been on a roller coaster over the last few years with a pandemic, supply chain issues, as well as related parts shortages and record price increases. Some of these impacts to the aftermarket were not expected and some were, but not the magnitude or the duration we experienced.

What can we expect in 2023? The pandemic will officially be over, as announced by the White House, on May 11. It is interesting how they can narrow down the end of the pandemic to an official day. Isn’t science amazing!?

There will be lasting effects from the pandemic on how people work and mask that I don’t think are going away. In my opinion, anyone can do whatever they think is best for them in regard to masks, and I believe that should be your position if your business interfaces with in-person customers.

I do scratch my head in my travels sometimes, though. Recently, I was in the Seattle area and there were a number of people walking outside by themselves along the Puget Sound in a swift breeze wearing masks. I just wanted to stop them and ask, “Why?” Luckily, my wife was with me, and she stopped me.

[RELATED: MacKay & Company shares economic, aftermarket forecasts for 2023]

We have seen some easing in parts shortages from our monthly surveys with fleets and parts distributors, but the easing is from record levels, and where we are now would be a record level if not for the recent past. It’s all relative.

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