Commercial Motor Vehicle Consulting’s (CMVC) CV Parts Aftermarket Sales Leading Indicator (PLI) decreased 1.1 percent in March — the eleventh consecutive monthly decrease for the indicator.
CMVC says the slippage signals parts aftermarket sales will continue to deteriorate in the near term. March’s PLI level was 6.8 percent lower than March 2019 and been below the same period a year earlier for five consecutive months.
“PLI decreased in March and many of the variables that makeup PLI probably fell again in April as stay in place spread among states during April further decreasing trucking activity,” says Chris Brady, president, CMVC. “A positive note is states appear to be slowly re-opening their economies in May that will stimulate a gradual recovery in trucking activity.
“In conclusion, PLI is signaling a further decrease in parts aftermarket sales in the near term, but we may be nearing the bottom in May. The rate of the recovery depends on several factors, which are variables in the composite index, PLI.”
Credit: Source link