Commercial Motor Vehicle Consulting’s (CMVC) parts aftermarket leading retail sales indicator (PLI) increased 0.6 percent in April from March, following an increase of 0.6 percent in March. PLI increased for the 10th consecutive month, signaling a continual upward trend in commercial vehicle parts aftermarket sales. In April, CMVC says PLI was 6.7 percent higher than April 2016.
“PLI is signaling a very positive parts aftermarket as the truck population is operating at high utilization rates, implying trucks are depreciating at normal rates. And, the population of trucks in operation is expanding as the inventory of used trucks decreases and new truck sales are above replacement demand volumes implying fleets are expanding capacity,” says Chris Brady, CMVC president.
“[Commercial vehicle] parts aftermarket sales are expanding at faster growth rates than the total truck population since the population of newer model year vehicles are expanding at a faster rate than the total truck population. Newer model year trucks operate in higher utilization applications than older model year trucks, so they consume parts at faster rates than older model year trucks,” Brady adds.