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ACT Research: Class 8 Natural Gas Truck Retail Sales Contracted 22% YTD 2020 through May

Posted by Jennifer McNealy on Jul 21, 2020 8:00:00 AM

US and Canadian Class 8 Natural Gas truck retail sales for the first five months of 2020 dropped 22% year-to-date over 2019, as published in the quarterly report (AFQ: Alternative Fuels Quarterly) just released by ACT Research.

The ACT Alternative Fuels Quarterly (AFQ) provides insight, analysis, and trends about alternative fuel/power adoption for the US heavy and medium duty commercial vehicle markets. It is designed to give quick insights to anyone with an interest in the evolution of power and alternative fuel use for heavy vehicles. The AFQ details such adoption considerations as fuel prices, fuel/charging infrastructure development, equipment prices/products/technological developments, and regulatory changes. NG truck sales data and a forecast for new natural gas adoption are included.

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“Sales of natural gas-powered vehicles as reported by the six major truck OEMs, who account for approximately 60% of the heavy-duty natural gas market, were almost uniformly weaker in the March to May time period,” said Steve Tam, Vice President at ACT Research. He continued, “While the year started strong, year-over-year loses since February have resulted in a year-to-date decline of 22%. Through the first five months of 2020, reporting OEMs have sold about 1,100 natural gas-powered Class 8 units.”

Tam added, “It is important to note for comparison that total US Class 8 sales were down 38% for the same time period.”

ACT Research is recognized as the leading publisher of commercial vehicle truck, trailer, and bus industry data, market analysis and forecasts for the North America and China markets. ACT’s analytical services are used by all major North American truck and trailer manufacturers and their suppliers, as well as banking and investment companies. ACT Research is a contributor to the Blue Chip Economic Indicators and a member of the Wall Street Journal Economic Forecast Panel. ACT Research executives have received peer recognition, including election to the Board of Directors of the National Association for Business Economics, appointment as Consulting Economist to the National Private Truck Council, and the Lawrence R. Klein Award for Blue Chip Economic Indicators’ Most Accurate Economic Forecast over a four-year period. ACT Research senior staff members have earned accolades including Chicago Federal Reserve Automotive Outlook Symposium Best Overall Forecast, Wall Street Journal Top Economic Outlook, and USA Today Top 10 Economic Forecasters. More information can be found at www.actresearch.net.

ACT’s 63rd seminar is scheduled for August 11-13, 2020, and is being offered via livestream for those wishing to participate. Focused on the road to recovery from the COVID-19 pandemic, the event will feature dealer, alternative power, and economic panels, as well as discussions on near-term demand of North American commercial vehicle markets and the pending impact of alternative power on the market in the near future. Click here for seminar information.

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Check out our previous Alternative Fuels Quarterly (AFQ) Press Release.

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Topics: Natural Gas, Alternative Fuels, Press Releases, commercial vehicle sales data, cng fuel, lng, cng

About ACT Research

We're the leading publisher of industry data, market analysis, and economic forecasting services for the commercial vehicle and transportation industries.

2019 Lawrence R. Klein Award Winner: Most Accurate Economic Forecast 2015-2019

  Partner to LMC Automotive and the Chinese State Information Center

  Contributor to the Blue Chip Financial and Wall Street Journal Consensus Economic Forecast


 

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