Natural Gas Vehicle Sales Fall 6.5 Percent
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Overall sales of natural gas vehicles (NGV) fell by 6.5 percent in 2014, according to a report from NGVAmerica.
While the NGV medium- and heavy-duty segments increased by 30 percent and 24 percent respectively, the NGV light-duty segment decreased by 34 percent. The light-duty decline came as a result of the dramatic decline in the price of oil in the second half of 2014 and its impact on light-duty NGV sales in the exploration and production sector, NGVAmerica said.
The medium- and heavy-duty segments experienced strong growth due to being made up of higher-fuel use applications that remain economically favorable.
Overall NGV production and sales are expected to hold steady or improve in 2015 as the price of oil rebounds, the report added.
NGVAmerica’s 2014 NGV Production/Sales Report provides NGV production/sales totals for the 2014 calendar year along with analysis of market trends for light-, medium-, and heavy-duty vehicles. A full copy of the report is available for free download on the NGVAmerica website.