ACT Research: Class 8 Natural Gas Truck Retail Sales Contracted 15% YTD 2020 through August
US and Canadian Class 8 Natural Gas truck retail sales for the first eight months of 2020 dropped 15% year-to-date over 2019, as published in the quarterly report (AFQ: Alternative Fuels Quarterly) recently released by ACT Research. Additionally, it was announced in that report that ACT Research has created an upgraded, online total cost of ownership and operational calculator, which now includes the societal costs in metric tons of CO2 per year. The calculator can be accessed at https://www.actresearch.net/cost-calculator/.
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 June to August time period, with all three months enjoying sequential gains,” said Steve Tam, Vice President at ACT Research. He continued, “As a result, sales continue to whittle away at the year-to-date deficit.”
Tam added, “Looking at the most recent month [August], sales rose 26% month-over-month, handily besting the year-ago period. Hampered by soft sales from February through June, though, the market has been playing catch-up most of the year.”
Additionally, ACT Research recently announced plans for a new multi-client study focusing on electrification of the commercial vehicle industry to be released in 2021. The scope of the study will include unit sales for the US and Canada, annually from 2020 to 2030, with single-year outlooks for 2035 and 2040. Class 8 truck and Classes 4–7 truck and bus segments will be considered, with additional segmentation encompassing step vans, conventional and low cab forward trucks, RV, school bus, yard spotter, transit bus categories, as well as the Class 8 straight, day cab, and sleeper subcategories. Our research will compare purchase and operational costs for diesel, battery, fuel cell, and hybrid powertrains in a rigorous comparative total cost of ownership (TCO) framework. It will also take into account concerns, such as infrastructure requirements and costs, regulation, and issues including maintenance, range, durability and vehicle and component replacement. For more details about how to participate in this study, including a full prospectus, contact Ian McGriff at imcgriff@actresearch.net or click here to let us know of your interest. (https://www.actresearch.net/cv-electrification-study-2021/)
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 64th Seminar is scheduled for February 23–25, 2021. Focused on the continuous evolution and advancement of power and energy changes in the transportation and commercial vehicle markets, OUTLOOK Seminar 64 will feature key industry leaders such as Ryan Reed of Wabash National, John Bennett from Meritor, Lance Riegel of Marvin Johnson, and Dominick Beckman from Hino Motors. Look for more details on this event over the coming months and save the date for February’s event.. Click here for seminar information. www.actresearch.net/seminar64
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