Demand for natural gas-fueled trucks continues to slow

by Truck News

COLUMBUS, Ind. – Natural gas truck sales in the US and Canada are down 29% year-to-date, according to the latest data from ACT Research.

The industry forecaster says, however, that the slowdown could reflect the broader truck market, which has seen Class 8 demand slide from last year.

“While sales of natural gas powered units have their own inherent challenges, part of the reason for softness may also be related to factors impacting the broader truck market,” said Steve Tam, ACT’s vice-president. “Regardless of the fuel used, heavy trucks are all competing for the same freight, which has failed to increase for at least the last five quarters.”

Tam added, “Coincidentally, many truckers increased their fleet sizes just as freight growth was slowing, setting up the current situation of excess capacity that is keeping the brakes on new truck sales, irrespective of fuel type.”

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