Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Demo, Thank you for welcome. It might not, IMO, be far into the future when events occuring outside the US force conversion to NG for the trucking industry. Hopefully, sooner than laater.
Welcome to the board Chilar....
We have yet to establish an active (and, hopefully, meaningful) exchange on this Board... but may someday. I have found that Sandyeggojake’s input to the Yahoo Msg Board to be of value in the interim... But, without a moderator, the yahoo msg board might someday lose its company specific focus (especially when there is a political angle, as is true for FSYS and CNG vehicle prospects in the US).
So, I continue to moderate the board in the hopes that someday posters may use it to:
1. understand the basis for price movements
2. broaden perspectives on management and director performance metrics
3. understand what future actions the company might or should take
4. obtain breaking news that might affect the company and/or the stock price
In the interim, one can use the board as a catalyst to:
1. organize your thoughts
2. ask questions that others might answer
3. archive information for easy reference using iHub’s search tool
Note that I strive to put a short list of relevant websites in the iHub Box that serves as and Intro Message.
Just established position today. If BhO decides to extract his head from his anus and mentions converting fleets to NG, this should double quickly. Course, I don't expect him to do anything for next 2 years other than try to get reelected.
March 21 lock-up expiration....
The agreement insiders made not to sell their stock when the Dec 9 secondary was initiated expires on March 21 unless there is some material event in the interim. Lock-up expirations often precipitate an acute drop in share price, perhaps, due to fear that insiders will flood the market when they are finally allowed to sell their shares. March 21 is the first date to meet the two conditions outlined in the prospectus describing when the lock-up is to end, i.e. 1) 90 days after the date of the prospectus (Dec 9) and 2) 18 days after any material event (Mar 3rd earnings release).
The only insiders holding meaningful quantities of FSYS stock are Mariano Costamagna and Piers Antonio Costamagna. Together, the Costamagna’s own about three million FSYS shares, 15% of the current shares outstanding. Mario Costamagna owns about 1.7M shares and Pier Antonio Costamagna owns about 1.6M shares. The combined holdings of all the other directors and executive officers listed in the April 15, 2010 DEF14A is less than 0.025M shares, an insignificant fraction of the total.
Personally, I doubt that the Costamagna’s will sell their stock when the lock-up expires. They had an opportunity to sell before the secondary and did not do so. It should be noted that there is a loan covenant (listed in the 11/9/2010 10Q) that requires Mariano Costamagna (as the Company’s Chief Executive Officer) and his family to hold, directly or indirectly, 10% of the outstanding capital stock, unless the reduction in ownership is attributable to one or more issuances of the Company’s capital stock or a merger or other fundamental corporate transaction which causes a variation in the outstanding capital stock. This covenant could, however, be easily circumvented by paying off the loan which on Sept 30, 2010 was $9.1M; FSYS currently has about $125M of cash or cash equivalents (per projections in the Dec 9 prospectus).
So, I anticipate that expiration of the lock-up will be a non-event.
Egypt riots could be good for $FSYS
Unrest in the Near East Area causing dollar to rise and equities to fall. And $F miss, partially on weak EU autos, is also hitting the sector.
But issues in the NEA are causing the specifically the Brent Crude to spike, and oil in general. Our thesis is higher oil and petrol prices = better for the spread with CNG. Rises in gasoline prices (especially if we crack the $4/gal at the pump) will provide strong public support to S3815 and similar NGVs & EVs incentive bills under active consideration.
Of course we need not tell this board that getting the US incentive bill passed will be HUGE news for $FSYS.
The unrest seems to be accelerating and expanding. What happens if it reaches Iran? Sure, it's mere speculation, but regime change in Iran might lead to an end of US sanctions and direct access to one of the world's largest NGVs markets.
(By the way, check out T.Boone's extended online interview on the Daily Show last night (1/27). Gives a strong plug for the at home CNG FuelMaker (AKA PHIL) by $FSYS. Says he is filling up his Honda GX Civic for less than $1/gal (likely gge). Jon's excited reply... "wow" "sounds too good to be true".
See www.thedailyshow.com for the vids.
Obama mentions CNG in SOTU
Thanks for the welcome. Thought I would share post the money quote from Obama's Sputnik Speech last night.
Here is the relevant quote for FSYS...
"We need to get behind this innovation. And to help pay for it, I’m asking Congress to eliminate the billions in taxpayer dollars we currently give to oil companies. I don’t know if you’ve noticed, but they’re doing just fine on their own. So instead of subsidizing yesterday’s energy, let’s invest in tomorrow’s.
Now, clean energy breakthroughs will only translate into clean energy jobs if businesses know there will be a market for what they’re selling. So tonight, I challenge you to join me in setting a new goal: by 2035, 80% of America’s electricity will come from clean energy sources. Some folks want wind and solar. Others want nuclear, clean coal, and natural gas. To meet this goal, we will need them all – and I urge Democrats and Republicans to work together to make it happen."
In our humble opinion, is a BRIGHT GREEN LIGHT from the WH for S.3815 and/or others similar bills. This is key for FSYS in the US, given the expiration of the prior CNG vehicle incentive program on 12/31.
Welcome to the board, Sandy....
TBoone on CNG & Obama ...w/Stewart?
From the Daily Pickens...
"We are excited about a number of media appearances T. Boone Pickens will be making this week, many of them timed to provide commentary on President Obama’s State of the Union remarks tonight.
First, Boone will appear tomorrow morning around 7 am ET on the popular CNBC morning program, Squawk Box.
Following that, and while in Washington, DC, Boone will also be a guest at approximately 8:15 am ET on MSNBC’ s “Morning Joe” program.
On Thursday night, Boone is an invited guest on The Daily Show with Jon Stewart."
The space should get more money flow and a bid with T.Boone back on the lobby train.
Bloombergs John Dorfman likes FSYS:
http://www.bloomberg.com/news/2011-01-18/knocked-down-stocks-likely-to-rebound-in-2011-commentary-by-john-dorfman.html
Re: algnv.org....
Thanks for the link, ExPat...
These are the kind of links I like to put in the iBox... The algnv website does not seem to be actively maintained, however.
Regarding the similar websites I have listed in the iBox, the ngvglobal.com site seems to be the best for the general user... and it tends to include many of the news stores that are found in the regional ngv sites...
Latin America NGV association.
http://www.algnv.org/en/index.html
(A response to Michael Helfand's quote from Needham conference: "We want to expand our footprint in those high-growth opportunities and high-growth geographies that we see in Latin America and Asia")
Needham Presentation was by Michael Helfand, not Matthew Beale...
My previous post erroneously attributed the Needham presentation to Matthew Beale....
FSYS at Needham & Co Growth Conference ....
Matthew Beale spoke at the Needham Growth Conference today...
I’ve tried to read between the lines of his presentation and get some sense of how FSYS might capitalize upon its cash balance. However, no special insight was found.
For those that might be interested, I have abstracted his statements relative to possible acquisitions below.
Interesting article that I thought I'd share:
http://www.cnbc.com/id/40794709
Re GMTI...
GMTI’s American Power Group operations might be on FSYS’ radar as an acquisition, but it is not large enough to justify the recent secondary and share dilution in my opinion.
Of potential concern is that GMTI does not own the patent for the technology it sells. In addition its cash balance (which was about $1.8M in June 2010) is largely due to a recent sale of its tire recycling business, not its operating income.... Operating income has been negative and the cash balance has been dwindling fast.
My data comes from the last 10Q filed on August 16, 2010. It is important to note that GMTI is late in filing its 10K (apparantly due to the complications of rectifying its balance sheet following sale of the recycling operations). see: http://www.sec.gov/Archives/edgar/data/932699/000117152010000835/efa4036_form12b25.htm
Quotes from the 8/16/2010 10Q ( http://www.sec.gov/Archives/edgar/data/932699/000117152010000478/eps3896.htm )
FSYS Acquisition target?
Greenman Technologies - Market Cap 17.5mm Cash on hand 2.5mm.
http://www.greenman.biz/greenman-technologies/
One of the Greenman subsidiaries is American Power Group, APG has some interesting angles:
APG’s dual fuel alternative energy system is a unique external fuel delivery enhancement system that converts existing diesel engines into more efficient and environmentally friendly engines that have the flexibility to run on:
diesel fuel and compressed natural gas (“CNG”);
diesel fuel and bio-methane, or
100% on diesel fuel depending on the circumstances.
Greenman recently hired Northland:
GreenMan Engages Northland Capital Markets As Strategic Financial Advisor
http://www.greenman.biz/files/grnpressreleasenorthlandjanuary42011final.pdf
After the recent FSYS secondary, I'm Just wondering???
U.S. Based Natural Gas Vehicle Stocks And Natural Gas Car Stocks
Fourth article in the following link: (at least a the time posted this)
http://car-blog.us/
New Pennsylvania Gov. Talks about converting state fleet to NGV
Corbett said he wants state government to help create demand for natural gas. He said he would explore converting the state's fleet of vehicles to using natural gas and whether state prisons, many of which are located near shale wells, could be powered by natural gas.
http://www.pittsburghlive.com/x/pittsburghtrib/news/pittsburgh/s_716284.html
Thanks for the link...
I have added the cngchat link to a new section in the iBox to make it easy to find for those interested.
CNGchat.com Has this been posted before?
http://cngchat.com/forum/content.php
Forgive me if it has, but I recently came across it and thought it was a valuable resource that should be shared.
NGVAmerica's take on the "Middle Clas Tax Relief Act of 2010":
http://www.ngvamerica.org/pdfs/NGAmericataxincentives.pdf
Legislation extending incentives for natural gas vehicles is included in the H.R. 4853 – the Middle Class Tax Relief Act of 2010. The legislation extends through 2011:
• the 50-cent per gallon tax credit for compressed and liquefied natural gas when used as a vehicle fuel. This tax credit, which expired at the end of 2009, is retroactive for 2010.
• the investment tax credit for alternative vehicle refueling property, including natural gas stations. This covers 30% of the cost or $30,000, whichever is less. This credit also includes a $1,000 tax credit for a home refueling unit
The natural gas vehicle tax credits, which expire at the end of the year, were not included in the legislation, but Kolodziej says the industry will work to reinstate them in the new Congress.
It really fires me up that the NGV tax credits weren't included, but I guess some progress is better than none.
Anything to increase the number of NGV's on the road.
Helps solve that old " chicken and egg" problem.
http://www.ngvglobal.com/honda-usa-to-take-cng-civic-gx-national-1218
Why Honda isn't working to increase the number of NGV filling stations is beyond me.
Okay. Was trying to help. GLTY
It does not really matter, I took the board over last year and cleaned it up. Just would have been nice to keep the chart up there...
MWM, probably not exactly what you wanted for a chart, but hope it will help.
Analysis: Sentiment shows weak as seen in the StochRSI just above 0.2; we need to see it get above 0.5 which would signal a possible trend reversal, then continue above 0.8 to demonstrate strong positive market sentiment; CMF demonstrates very weak buying pressure (need to see it rise to 0.25 or more); ADX is showing the "possibility" of a strong trend reversal with +DI curling upward, -DI curling downward and recently crossing below the ADX (need to see +DI cross above -DI for confirmation of a trend reversal; 5, 10, 20MA are reversed (bearish) and need to align in their proper order to become bullish (watch for cross of 5MA above 10 for early indication of a possible trend reversal. Watch for a breaking of the trendline just below $30. If the trendline is pierced it is possible to see a retrace to around the $25 area. If the short position figures are correct, it does appear "they" have again been increasing their position. My guess would be they've increased their positions from November to present at around $42 and $36 respectively. FINVIZ is now showing 34.90% of the float is short. Again, I hope you find this helpful.
http://www.finviz.com/quote.ashx?t=fsys&ty=c&ta=1&p=d
No offense but I think it's boring and void of life, a good chart is needed in every Ibox imo...
but life goes on...
Re: Why not chart?
I like everything to be on one page...
Why have a link when you can just have the chart?
Re: Where did the chart in the ibox go?
MWM, I added a link to the 6-month FSYS chart as the first entry of the ibox.
If you know of one or two particularly useful charting tools, that can be accessed with a hyperlink, I would be happy to add these to the ibox as well.
Dem, Thanks for a very informative post! I was unaware of Fysy's storied history. Your theory makes sense in light of this historical context. I'm fond of the saying "Generals always fight the last war".
So, assuming the secondary is intended for acquisitions, it seems possible that further SP erosion could occur in the wake of such an action.
Would it seem prudent for Fsys to be looking for a foreign (Asian) prescence?
Do you have any suspicions as to possible targets ( either companies or specific industries )?
50 million isn't really that significant of a "war chest ".
It looks like we may have to wait longer than I had hoped for FSYS to gain any real traction.
On a more positive note, it looks like Harry Reid has folded much of his energy bill into the new tax cut extension so we should be getting a bit of a tailwind there.
Re Secondary ....
ExPat, Assuming a lack of fiduciary responsibility by FSYS management and a feeling of betrayal is a reasonable first emotion given the lack of justification for the secondary offering...
At this time, however, I’m imagining the secondary is a possible preliminary to a large acquisition and view this source of funding as a reflection of current management’s excessive efforts to avoid leverage. Admittedly, I don’t know that management is adverse to leverage, its just the way I read their balance sheet.
I suspect that this putative company stance vis-a-vie leverage was heavily influenced by the devastating effect of leverage as employed by the former IMPCO management when they acquired BRC in the 2002-2005 time frame.
To summarize this history, IMPCO leveraged the purchase of the first 50% of BRC and an option for the remainder by giving the Costamagna brothers a substantial amount of IMPCO stock and by restructuring IMPCO’s debt with loans from Bison Capital and LaSalle Business Credit on, what turned out to be, very unfavorable terms.... Within a year of the restructuring, IMPCO was in default on these loans and per the original terms, the interest rates began to accelerate rapidly making continued default and interest rate acceleration a self-fulfilling theme.
When it came time to for IMPCO to exercise their option for the remainder of BRC in 2005, their leverage put them in a very compromised position. In the end, IMPCO lost control and BRC took over the company.... As I read the history, BRC’s control of the company was not by choice (i.e. I suspect that the Costamagnas wanted to be bought out). Instead, the Costamagnas had to step in in order to prevent a substantial personal loss resulting from their original acceptance of stock instead of cash. Indeed, one of their first steps was to make what amounted to a personal loan to rescue IMPCO from the creditors (Bison Capital in particular).
The most concise statement of this history can be found in IMPCO’s Feb 8, 2005 S4A SEC document. http://www.sec.gov/Archives/edgar/data/790708/000119312505021442/ds4a.htm
See in particular the “Background” on pg 50-55. You might also find the detailed descriptions of IMPCO and BRC at the time of the 2005 proxy to be informative.... (beginning on pg 66). For example the BRC patents are listed on pf 90.
Recognizing that most individual investors tend not to read SEC documents, I am abstracting one of the more informative sections here (beginning on pg 53; where the “founders” are the Costamagna brothers):
Dem,
I absolutely value your opinion on this.
A couple of points:
First, I'm an investor and my definition of investor is someone who's interested in maximizing profit.
That precludes any emotional involvement with any particular stock or enterprise.
Secondly, my prior post was in part contrary to my first statement. I felt, and continue to feel somewhat betrayed by what I believe to be a lack of fiduciary responsibility by FSYS management.
Disclaimer : I'm not only Long FSYS but I'm morally and politically ( something I detest as an investor ) a believer in the technology and the impact to American society of NGV as a whole
ExPat, Regarding your three questions...
I have come to realize that we are not on the same page...
I believe that FSYS has repeatedly “communicated the impact of the loss of Italian subsidies on earnings” ....
I don’t think that they “continue to lower guidance in increments”....
and, I consider it possible that management did understand the risk that their Dec 6 8K would have on the share price and the cash raised by the secondary. Although, I do agree with the essence of your last question; i.e. I don’t understand why they took the risk given the strength of their pre-secondary balance sheet.
Support for my first contention (i.e. that FSYS has communicated the impact of the loss of Italian subsidies) would require substantial discussion. I’m willing to get into this discussion, but want to be sure that you are really interested before I bother.
Support for my second contention (i.e. that they haven’t continued to lower guidance in increments) is easily supported by the SEC documents and related CC transcripts. In particular their published guidance has been:
FSYS Guidance History for FY2010
================================================
Gross Operating
Date Source Revenue Margin Margin
2010-03-04 CC,8K $400-$450M 28%-30% 12%-14%
2010-05-06 CC,8K $400-$450M 28%-30% 12%-14%
2010-08-05 CC,8K $425-$450M 29%-31% 14%-16%
2010-11-04 CC,8K $425-$450M 29%-31% 14%-16%
2010-12-06 8K $420-$430M 29%-31% 14%-16%
================================================
Note that actual FY2010 results won’t be known
until March 2011.
Alternative vehicle refueling property. The bill extends through 2011 the 30% investment tax credit for alternative vehicle refueling property.
Alternative fuels credit. The bill extends through 2011 the $0.50 per gallon alternative fuel tax credit. The bill does not extend this credit any liquid fuel derived from a pulp or paper manufacturing process (i.e., black liquor).
CLNE gets 30% discount on any and all properties. So does Flying J, which means lots of building. up up up
Welcome to the FSYS board Ex...
I'm distracted today, but will get back to you tomorrow...
The question that I have been trying to answer is: Why did they bother to raise cash at this time given their relatively strong current cash balance?
Calling Dem...
You seem to have a good " feel" for this stock/ story, can you provide some perspective on the recent events?
I'm a long who got in right after the disappointing quarter was announced.
Unfortunately, I guess I tried to " catch a falling knife".
I've been a big believer in the long term (3-5 year) story for NGVs and have been following the stock for about two years.
Back to my question, I just can't understand managements thinking with respect to the recent events:
First - how do you NOT communicate the impact of the loss of Italian subsidies on earnings?
Secondly - how do you continue to lower guidance in increments? ( if you need an amputation cut the arm off completely, not one inch at a time)
Lastly, how do you lower guidance and announce a secondary simultaneously and not think that the SP is going to take a significant hit ( and thus reduce the cash raised by said secondary )
It's almost as though FSYS doesn't have a CFO. (wait, they don't, the CEO doubles as CFO)
I just don't get it, are they trying to fail?
I appreciate the heads up, thanks. I've been keeping an eye on that.
Re: Short Interest...
Phranic, you might be interested to note that FSYS’ short interest dropped another 369K shares in the first two weeks of November (from 535K on 10/29 to 498K on 11/15)... This represents about 7.5% of the daily volume during that time. The decrease occurred despite a weak quarterly report that had precipitated a 15% drop in the share price and a large spike in volume.
I continue to believe that the major short holders are reducing thier position in an orderly fashion (about 10% of the average daily volume) and that this divestiture will continue for the next 3-4 months under current conditions.
Excellent synopsis. I'll check out the short link. Thanks for your articulate explanation and time.
Regarding short position....
Phrantic... There may be several reasons underlying the large short interest in FSYS stock.... My working hypothesis is that the main factor has been the expectation that FSYS’s growth trajectory will collapse once governmental stimulus programs are terminated. An important secondary factor may have been an expectation of prolonged stagnation of world oil prices (which would dampen the economic incentive for switching to CNG/LPG).
Note that the major increase in the short position (from a steady state of about 3M shares during 2009 to 8M shares in Jan and Feb 2010) correlated with the date for renewal of the Italian CNG automobile incentive program. At the time (Q4, 2009), the Italian automotive market was the dominant driver for FSYS growth.
In fact, the Italian incentives were unexpectedly terminated and FSYS has suffered (i.e. BRC’s high margin DOEM installations have fallen from 47K in Q3 2009 to 9K in Q3 2010 largely due to an 80% drop in the Italian market. And,FSYS’s total revenue has decreased from 116M in Q3 2009 to 86M in Q3 2010, despite respectable growth outside the European auto market).
So, by my reckoning, the shorts were correct. However, I believe that they have not profited as much as they might have because CNG/LPG prices have dropped substantially, neutralizing the effect of “low” gasoline prices. And, more importantly in my view, the sustained supply forecasts for CNG/LPG has dramatically increased over the past year laying the foundation for a fundamental shift in the gaseous fuel market share (both on the industrial side – IMPCO, and the commercial vehicle side – BRC).
With respect to the short interest per se, I think it is important to note that the short interest has been on a fairly steady down trend during the past three months (i.e. from 7.3M shares in July to 5.5M in October). I am struck by the fact that the rate of short interest deflation approximates 10% of the average daily share volume.... In my estimation, this is about as fast as one can exit without impacting the share price. Given my presumption that the increased short position from the 3M steady state was due to a small number of sophisticated investors, I am assuming that the 10% rate of decline means that the sophisticates are exiting and that this exit will take 3-6 months unless daily volumes dramatically increase.
Note that you can track the short interest using the link that I have provided in the iBox.
I've noticed for some time now the huge short position in FSYS, ranging between 40 - 50% of the float. What is the lure to shorting this stock that brings such a strong short presence? TIA
Contribution of PCI and EvoTek to earnings...
Mazzone... Matthew Beale (President and CFO, FSYS) addressed your question concerning the effect of the recent acquisitions (PCI & EvoTek) on next quarters earnings in the Nov 4 CC.
Re PCI acquisition...
Mazzone, you might be interested in the news item copied below. It was posted by jingjohk11 on the yahoo message board (10/2/2010).
It addresses your query about the impact of the recent PCI acquisition... What I found interesting in this news item is that it refers to Ford vehicles instead of the GM vans previously discussed. And, importantly, it refers to bifuel systems, FSYS’s forte.
115 propane fueling sites being built for state vehicles INDOT is having fleet retrofitted to run on AutoGas and gasoline
Oct 1, 2010
Written by
Bruce C. Smith
By the end of this year, a large part of the fleet of state vehicles will be running on liquefied propane, a fuel popularized in Europe and spreading in this country as AutoGas. Construction is under way to create 115 propane fueling stations at Indiana Department of Transportation regional and district offices, fleet garages and other facilities. The purpose: to fuel an INDOT fleet of at least 200 Ford vans, trucks and other vehicles that are being converted to run on both gasoline and propane.
State Department of Energy officials estimated the savings at $700,000 to $1 million a year because propane is cheaper than gasoline and causes less wear on engines, meaning less repair and longer life of the vehicles. Conversion of the fuel systems is under way in the Productive Concepts shops in Union City. Several dump trucks are being fitted to run on compressed natural gas.
Meanwhile, word of work on the fueling stations was disclosed Thursday in an announcement from the North Carolina-based Alliance AutoGas, a consortium of suppliers and others promoting propane as a fuel for transportation. The Alliance announced that a $3.2 million contract had been received from INDOT to build, equip and operate the fueling stations. The stations are basic: most feature a large propane storage tank and a pumping station that resembles the squeeze-type handle familiar to motorists at gasoline stations.
Kellie Walsh, director of the Greater Indiana Clean Cities Coalition, said the conversion to propane of part of the state's vehicle fleet is one of several projects funded through a $22.8 million federal American Recovery and Reinvestment Act grant to promote alternative fuels. About $300 million in federal funds were appropriated for projects in 25 states. In Indiana, projects by the state's Office of Energy Development and others to promote propane, compressed gas and other types of fuel are under way to find cheaper and less polluting alternatives to imported gasoline.
About $3.2 million ultimately was allocated to create the 115 sites to fuel specially equipped state vehicles with propane. Walsh said the initial plan is that fuel sites will be at state facilities and probably restricted to state vehicles. The sites will not be public.
According to the AutoGas for America trade organization, about 14.6 million vehicles in the world run on propane. Only 200,000 of them are in the U.S. A gallon of propane currently costs less than $1.80 gallon, while gasoline is $2.60 for a comparable amount of fuel to travel the same distance. A federal tax credit of 50 cents a gallon for propane expired last year, but several bills to reauthorize the tax break for alternative fuels are pending in Congress, Walsh said.
====
http://www.indystar.com/article/20101001/BUSINESS/10010389/115-propane-fueling-sites-being-built-for-state-vehicles
Technically, FSYS has been showing support around $30.59 and resistance in the $38.70 price range. It is rated buy with the $45.20 target price in six months.
"http://www.stoxline.com/quote.php?symbol=fsys"
Regarding acquisition effects upon next quarter earnings...
My guess is that the recent acquisitions (PCI, Evotek) will not have a material effect on near term earnings. Instead, they position FSYS for participation in the US market should it develop further...
The acquisitions might have some effect upon the near term P/E ratio to the extent that this metric depends upon investor expectations regarding the ultimate size of the North American CNG/LPG vehicle fleet.... However, in the near term, significance of the acquisitions per se will probably be overshadowed by political developments regarding the natural gas act (and its congeners) when investors are formulating expectations regarding future earnings that FSYS might garner from the North American gaseous fuel vehicle market.
I am curious to see how the recent aquisitions will effect next qaurters earnings?
2011 Savana & Express CNG Pricing...
GM has announced its intended 2011 sticker price for integrating the CNG option into the Chevrolet Express and GMC Savana vans. The pricing seems rich to me and unlikely to fuel rapid market penetration; i.e. it will add an extra 60% increment ($16K) to the base price ($26K).
per http://media.gm.com/content/media/us/en/news/news_detail.brand_gm.html/content/Pages/news/us/en/2010/Aug/0831_cng
DETROIT – The fully integrated and dedicated Compressed Natural Gas (CNG) option, available this fall for Chevrolet Express and GMC Savana full-size vans, will be priced at $15,910 MSRP, General Motors announced Tuesday.
The all-inclusive CNG option for commercial customers includes a dedicated CNG system, a natural gas-capable Vortec 6.0L V8 engine, and heavy duty trailering equipment. Chevrolet and GMC are the only full-line vehicle brands to offer a “check-the-box” CNG option for vans.
“Customers tell us coordinating the upfit for their CNG vehicles takes away valuable time that would be better used running their business,” said Joyce Mattman, director of Commercial Product and Specialty Vehicles. “Our CNG vans come with a fully integrated CNG fuel system, a comprehensive warranty, emissions compliance and strong dealer support, all for one price.”
Pricing for the all-inclusive CNG option includes a dedicated CNG system ($14,590), a natural gas-capable Vortec 6.0L V8 engine ($1,295), as well as HD trailering equipment ($265). A $240 credit for deleting the spare tire brings the package price to $15,910. So the total cost of either a 2011 Chevrolet Express or 2011 GMC Savana Cargo model, which starts at $25,980 would be $41,890 with the CNG option.
Powered by a Vortec 6.0L V8 engine, the Chevrolet Express and GMC Savana full-size vans come equipped with hardened exhaust valves, and intake and exhaust valve seats for improved wear resistance and durability with gaseous fuel systems.
The vans will meet all Environmental Protection Agency (EPA) and California Air Resources Board (CARB) emission certification requirements, and will be fully compliant with applicable motor vehicle safety standards. Each CNG Chevrolet Express or GMC Savana van also will be covered by GM’s three-year, 36,000-mile new vehicle limited warranty and five-year, 100,000-mile limited powertrain warranty.
To find more information about the Chevrolet Express and the GMC Savana, and to see the full lineup of GM Fleet and Commercial vehicles, visit gmfleet.com.
Followers
|
12
|
Posters
|
|
Posts (Today)
|
0
|
Posts (Total)
|
405
|
Created
|
05/13/08
|
Type
|
Free
|
Moderators |
Business Summary |
---|
Fuel Systems Solutions, Inc. designs, manufactures, and supplies alternative fuel components and systems for use in the transportation, industrial, and power generation industries worldwide. The company operates through two segments, FSS Automotive and FSS Industrial. Its components and systems control the pressure and flow of gaseous alternative fuels, such as propane and natural gas used in internal combustion engines. The company offers a range of components, systems, and solutions, including fuel delivery products, such as pressure regulators, fuel injectors, and flow control valves and other components designed to control the pressure, flow, and/or metering of gaseous fuels; electronic controls comprising solid-state components and proprietary software that monitor and optimize fuel pressure, and flow to meet manufacturers? engine requirements; and gaseous fueled internal combustion engines that are integrated with its fuel delivery and electronic controls. It also provides systems integration support services to integrate the gaseous fuel storage, fuel delivery, and/or electronic control components and sub-systems; auxiliary power systems for truck and diesel locomotives; and natural gas compressors and refueling systems for light and heavy duty refueling applications. The company sells its transportation products to automobile manufacturers, taxi companies, transit and shuttle bus companies, and delivery fleets; and industrial products to the manufacturers of industrial mobile and power generation equipment, stationary engines, and heavy duty trucks and buses. It offers its products through a network of distributors and dealers, as well as through a sales force network. Fuel Systems Solutions, Inc. was founded in 1958 and is based in New York, New York.
Websites with NGV News Updates: | Related Forums and Bulletin Boards: |
http://www.ngvglobal.com/ | http://cngchat.com/forum/forum.php |
http://www.ngvamerica.org/ | |
http://www.ngvaeurope.eu/ | |
http://www.cngva.org/ |
Volume | |
Day Range: | |
Bid Price | |
Ask Price | |
Last Trade Time: |