FREE SUBSCRIPTION Includes: The Advisor Daily eBlast + Exclusive Content + Professional Network Membership: JOIN NOW LOGIN
Skip Navigation LinksHome / News / Read News

Print

ACT Research: Class 8 Natural Gas Truck Retail Sales Gained 21% YTD through February

April 26, 2022, 07:00 AM
Filed Under: Trucking

For the first two months of 2022, U.S. and Canadian Class 8 natural gas truck retail sales rose 21 percent year-to-date against comparisons of the same time period in 2021, as published in the quarterly report (AFQ: Alternative Fuels Quarterly) recently released by ACT Research.

“Sales of NG-powered vehicles as reported by the six major truck OEMs, who account for approximately 60 percent of the heavy-duty natural gas market, were mixed in the December to February time period, with December and January experiencing strong year-over-year gains, but February lagging considerably,” said Steve Tam, Vice President at ACT Research. “In the near term, December’s sales easily outshone January and February’s activity, which paled in comparison. Combined, sales in the three-month period extended and increased YTD gains meaningfully, a relatively new development.”

Tam added, “Besides sales, the Alternative Fuels Quarterly analyzes the change in existing and planned alternative fuel/power infrastructure and equipment developments. We’re seeing an overall increase in electric charging stations, both existing and planned, but a continuing decline of total natural gas stations, particularly those planned for the future. That said, we still see articles about natural gas use in transportation, as well as discussions about hydrogen fuel cells and investments, but the overwhelming amount of trade-industry headlines continues to focus on electric commercial vehicle development.”







Comments From Our Members

You must be an Equipment Finance Advisor member to post comments. Login or Join Now.