For the first two months of 2021, US and Canadian Class 8 natural gas truck retail sales dropped 25% year-to-date over the same time period in 2020, as published in the quarterly report (AFQ: Alternative Fuels Quarterly) recently 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.
“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 mixed in the December 2020 to February 2021 time period, with December experiencing a small sequential decline, but an impressive year-over-year gain,” said Steve Tam, Vice President at ACT Research. He continued, “The new year got off to a slow start, falling month-over-month and year-over-year, but February shown brighter, improving from January and last February, up 1% and 5%, respectively.”
Tam added, “Last year ended with 6% fewer US Class 8 natural gas-powered units sold than in 2019, while through the first two months of 2021, reporting OEMs have sold 468 natural gas-powered Class 8 units, down 25% against a very strong comparison.”
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.
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