More than 430,000 vehicles were converted to CNG until July of this year

The total number of vehicles converted to vehicular natural gas (NGV) reached 431,857 units in July, what rrepresents an increase of 17.48% compared to what was reported in the same month of 2022, when 367,607 units were recorded. However, the growth rate is lower than that of December 2022 (22.87%).

“The performance of CNG vehicle conversions during 2023 has slowed down compared to the previous year; However, it is necessary to indicate that the result for 2022 was significantly high, so it could be argued that said behavior has been as expected, also considering that the prices of petroleum-derived fuels have partially yielded,” said Alberto Morisaki, manager of Economic Studies and Statistics of the Automotive Association of Peru (APP).

In addition, he added that the figure has exceeded the average expansion registered in the last 10 years (10.16%).

What was observed last year and this 2023 is explained by the rebound in demand, in response to the sharp increase in the prices of petroleum-derived fuels in 2022.

In detail, between January and July of this year, 30,969 units were converted, which represents a 24.87% drop compared to the same period in 2022 (41,219 vehicles). Despite the lower rate, the number of vehicles converted during the first seven months of 2023 has exceeded 15,204 units converted on average, per year, in the period 2012 to 2021.

Users benefited by the conversion can obtain savings compared to if their vehicles were on gasoline. According to Infogas, and considering available figures from January to April 2023, the savings generated by the use of CNG compared to other fuels is estimated at S/1,024 million. In total, it is estimated that the total savings accumulated since 2005 reached S/21,701 million, resources that NGV users can allocate to other needs.