ACT Research: Class 8 Natural Gas Truck Retail Sales Rose 20% YTD 2019 through November
US and Canadian Class 8 Natural Gas truck retail sales for the first eleven months of 2019 gained 20% year-to-date over 2018, as published in the quarterly report (AFQ: Alternative Fuels Quarterly) just released by ACT Research. Full-year 2018 was down 15%, while 2017 was up 13%.
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.
“Bucking the declining pattern of the past few years, year-to-date November 2019 sales appear to be gaining ground, with sales of natural-gas powered vehicles on an overall upward trajectory,” said Ken Vieth, Senior Partner and General Manager at ACT Research. He continued, “That said and based on news released in the popular press, natural gas vehicle purchases were dominated by refuse fleets, as well as transit and school bus operators. Among truckers, the majority of incremental volume came from existing natural gas vehicle on-highway users replacing units or adding to their fleets.”
Vieth 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, but a continuing decline of total natural gas stations. Further analysis shows that the number of planned private heavy-duty CNG stations is growing.” He continued, “Regarding electric commercial vehicles, right now we’re witnessing a tug-of-war between fuel-cell and battery technology investment in the Class 8 over-the-road market, and it’s way too early for us to call a winner.”
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 also 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 62nd seminar is scheduled for February 11–13, 2020, and will feature trucker, electrification, and economic panels, as well as discussions on near-term demand of North American commercial vehicle markets and the pending impact of electrification on the market in the near future. A commercial vehicle database workshop is also being planned in conjunction with this semi-annual event. Click here for seminar information.
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