Sales of natural gas-powered vehicles showed a mixed performance during the December to February period, according to the latest *Alternative Fuels Quarterly* report from ACT Research. In December, sales dropped by 47% compared to the same month the previous year, while January saw an even sharper decline of 57% year-over-year. However, February brought a positive shift, with sales rising by 40% compared to the same period in 2022.
"In the short term, the results were quite volatile," said Steve Tam, Vice President at ACT Research. "December saw a modest 1% monthly increase, but January plunged by 49% compared to the prior month. Fortunately, February managed to recover 33% of that loss." He added, "Overall, the three-month total fell below the year-to-date gains seen in November, ending 2022 with a 3.2% increase compared to 2021."
So far in 2023, sales have declined significantly, with a year-to-date drop of 29% through February compared to the same period in 2022. In 2022, a total of 3,837 natural gas-powered vehicles were sold. Through the first two months of 2023, reporting original equipment manufacturers (OEMs) have sold 403 Class 8 natural gas-powered units.
The *Alternative Fuels Quarterly* report provides comprehensive insights into the adoption of alternative fuels and power sources in the U.S. heavy- and medium-duty commercial vehicle markets. Designed for quick reference, it offers valuable analysis on trends, challenges, and opportunities in the sector. The report covers key factors such as fuel prices, infrastructure development, equipment costs, technological advancements, and regulatory changes. It also includes detailed data on natural gas truck sales and forecasts for future adoption.
ACT Research is a trusted source for data, market analysis, and forecasts in the commercial vehicle industry, serving both North America and China. Their reports are widely used by major truck and trailer manufacturers, suppliers, and financial institutions. ACT Research contributes to the Blue Chip Economic Indicators and is 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. The company has also been honored with awards for accurate economic forecasting and top-tier industry outlooks.
For more information, visit www.actresearch.net.
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