Demand for Natural Gas Vehicles Experiencing Steady Growth -- Ford Sells Record Number of NGVs in 2012
RDInvesting Provides Stock Research on Fuel Systems Solutions and Quantum Fuel Systems
NEW YORK, NY -- (Marketwire) -- 03/07/13 -- Natural gas vehicles have experienced a surge in demand over the past year as falling prices and abundant supplies have made the commodity a viable fuel option. Compressed natural gas (CNG) costs vary between $1.79 to $3.49 per gallon throughout the U.S., while gasoline and diesel averages $3.74 and $4.12, respectively. Research Driven Investing examines investing opportunities in the Auto Parts Industry and provides equity research on Fuel Systems Solutions, Inc. (NASDAQ: FSYS) and Quantum Fuel Systems Technologies (NASDAQ: QTWW).
Earlier this week, Ford Motor Co. reported they sold a record number of natural gas vehicles (NGVs) in 2012. Ford announced that they sold 11,600 NGVs in 2012, over three times the number of NGVs sold in 2010. General Motors Co. and Chrysler Group have recently begun selling natural gas pickup trucks, while Honda Motor Co. reported record U.S. sales of approximately 2,000 units for their natural gas Civic in 2012. The NGV market has experienced steady growth, but widespread adoption in the consumer market has been prevented by the lack of access to necessary infrastructure. Help may soon be on the way for the industry as General Electric is currently developing a $500 home fueling station that would connect to household gas lines.
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Fuel Systems Solutions is a leading designer, manufacturer and supplier of proven, cost-effective alternative fuel components and systems for use in transportation and industrial applications. The company has announced they will release fourth quarter and year-end 2012 financial results on Friday, March 8th.
Quantum currently produces the lightest and highest capacity natural gas and hydrogen on-board storage systems in the world. The company earlier this year announced it has been granted a key patent covering pressure and flow management for on-board gaseous fuel storage systems.
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