Cover Story
W
Figure 1
How would you rate your company's
overall 2013 performance?
Significantly above 2013 projections (+10%)
Slightly above 2013 projections (2-10%)
Equal to 2013 projections (+/- 2% of projections)
Slightly below 2013 projections (2-10%)
Significantly below 2013 projections (+10%)
14%
29%
27%
21%
9%
Source: December 2013 TPS reader survey.
W W W . T R U C K PA R T S A N D S E R V I C E . C O M
ith speeds that would make the
tortoise proud, the aftermarket
enters 2014 amid a slow and
steady upward climb.
Now four years removed from a recession
that devastated the United States' economy, the
aftermarket has rebounded to business levels
seen during peak years in 2006 and 2007.
The market isn't booming, but growth
— slow as it may be — appears sustainable,
and after years of running lean, aftermarket
businesses are starting to operate with wind in
their sails again.
The aftermarket has weathered the storm.
So as companies throughout the industry
close the books on 2013 and look to the future, they do so with a sense of optimism.
After years of treading water, the aftermarket is moving forward.
"It's not at a fevered pitch but it's a good,
strong and favorable pace," says Steve Crowley,
president and CEO at VIPAR Heavy Duty.
"It's not as strong as we had thought it
could be earlier," adds Bill Nolan, president at
Power Brake & Spring, "but it's so much better
than it was four or five years ago that it's hard
to complain."
While 2013 will ultimately go down as a
productive one for the aftermarket, the year's
overall success wasn't a foregone conclusion at
the start of the year.
There was doubt in the marketplace as
2012 came to a close.
"I think everyone was really concerned
about the condition of the aftermarket at the
start of the year," Crowley says.
An economic stumble down the stretch and
a cloud of political uncertainty in Washington
D.C. seemed to envelop the industry in late
2012.
"If you remember what was going on in
Washington, I think there was a lot of concern
about what was going to come out of it all,"
Crowley says. Citing the budget, fiscal cliff
J a n u a r y 2 0 1 4 | T R U C K PA R T S & S E R V I C E
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