Polk has expanded the categories of commercial vehicle components that are included in its forecast of demand for aftermarket commercial vehicle parts. Polk now offers 11 categories and more than 60 specific components included in the forecast, developed to help customers make good business decisions and better understand the replacement demand for commercial vehicle parts.
The demand forecast is based on Polk’s Vehicles In Operation data for commercial vehicles in the United States, which includes more than 11 million Class 3-8 vehicles. Based on its VIO data, together with an estimate of the replacement cycle for each of the various aftermarket components, Polk produces a forecast of aftermarket parts demand by geographic location, vehicle or engine manufacturer, vehicle age, specific vehicle part and other criteria most relevant for customers.
“One of the capabilities that the expanded commercial demand modules from Polk offers is the ability to identify parts demand within a specific geographic market adjusted for just those vehicles that typically reside in that market,” says Gary Meteer, director of sales and client services at Polk. “This helps retailers, distributors and component manufacturers identify specific demand in the area, adjusted for those vehicles that may be registered in the area but are not likely to have service and parts replaced within the area.
“The more our customers are exposed to the linkage of real vehicle populations and a replacement factor for each vehicle, the more they realize how strong a tactical and strategic planning tool we have,” Meteer says. “We expanded our parts categories at the request of our customers who were looking for a better tool to aid them in both tactical and strategic planning for their aftermarket commercial parts business.”
Previously commercial vehicle parts demand forecast for Class 3-8 vehicles were available for filters, brake components, lubricants, engine components and tires. This year, the following parts categories have been added: electrical, cooling, steering, suspension, wheel end and exhaust, among others. There are other categories currently being discussed with prospective customers. The information is updated quarterly and is available in a variety of methods, from a single report to an online system available 24/7.
“With the vehicle population aging, there is increasing demand for better aftermarket replacement part information in both the commercial and light vehicle sectors,” says Mark Seng, vice president of aftermarket and commercial vehicle, and Polk’s global aftermarket practice leader. “We are pleased to bring this expanded portfolio of information to our customers in the commercial aftermarket to help them make better decisions for their business.”