Sales of natural gas-powered vehicles showed inconsistent performance during the December to February period, according to the latest *Alternative Fuels Quarterly* from ACT Research. December sales were down 47% compared to the same month in the previous year, while January saw an even sharper decline, falling 57% year-over-year. However, February brought a positive shift, with sales rising by 40% compared to the same period in 2021.
Steve Tam, Vice President at ACT Research, noted that the short-term trends were equally volatile. “December saw a modest 1% monthly increase, but January dropped by 49% from the prior month,†he explained. “February then recovered 33% of that loss.†He added that, overall, the three-month period failed to maintain the year-to-date gains seen in November, ending 2022 with a 3.2% increase compared to 2021.
Looking ahead, Tam pointed out that so far in 2023, natural gas vehicle sales are down 29% through February compared to the same period in 2022. In 2022, total natural gas sales reached 3,837 units. Through the first two months of this year, reporting original equipment manufacturers have sold 403 natural gas-powered Class 8 trucks.
The *Alternative Fuels Quarterly* report offers valuable insights into the adoption of alternative fuels and power systems in the U.S. heavy- and medium-duty commercial vehicle markets. Designed for quick reference, it covers key factors influencing fuel choices, such as fuel pricing, infrastructure development, equipment costs, technological advancements, and regulatory changes. The report also includes historical data on natural gas truck sales and projections for future growth in natural gas vehicle adoption.
ACT Research is a leading provider of industry data, market analysis, and forecasts for the commercial vehicle sector in North America and China. Their research is widely used by major truck and trailer manufacturers, suppliers, and financial institutions. ACT Research is a contributor to the Blue Chip Economic Indicators and a member of the Wall Street Journal Economic Forecast Panel. Its executives have received numerous accolades, including recognition from the National Association for Business Economics and the National Private Truck Council. ACT Research has also been honored with awards such as the Lawrence R. Klein Award for accurate economic forecasting and multiple "Top Economic Outlook" honors from reputable media outlets.
For more information about ACT Research and its reports, visit www.actresearch.net.
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