The Official Blog for Penske Truck Leasing, Truck Rental and Logistics

Now in its fifth year, the State of Sustainable Fleets 2024 Market Brief sheds light on an industry meeting the moment of an active transition. It was released today on day one of the Advanced Clean Transportation (ACT) Expo in Las Vegas, and is available to download at no cost by clicking here. It was created by clean technology consulting firm, GNA, a TRC company. Penske Transportation Solutions, Volvo Trucks North America, and Chevron serve as title sponsors. Dana, Exelon, and S&P Global Mobility are supporting sponsors.

“The last two years of decisive new emissions regulations and the complexity that come with adopting any new technology, let alone multiple new clean technologies, compounds confusion for fleets,” said Nate Springer, vice president market development, TRC Companies. “It is exciting to see the numerous new partnerships, investments, and innovations that industry and government are forging to put sustainable solutions into the hands of fleets today while laying the groundwork for tomorrow’s ever greater adoption of clean technologies.”

The previous year continued a record flow of $32 billion in state and federal funds available to fleets while supplies of renewable diesel and renewable natural gas reached new highs to deliver solutions for fleets today. A vanguard of new utility-fleet partnerships, depot and leasing business models, and technologies to utilize existing natural gas supplies revealed an oncoming host of innovations to solve the charging challenge.

“Fleets today are faced with a myriad of challenges in their continual pursuit of reducing the environmental impact of their operations,” stated Drew Cullen, Penske senior vice president of fuels and facility services. “The complexity of options, investment requirements, and the promise of continued technology improvements only adds to fleet planning uncertainty. The 2024 State of Sustainable Fleets report is a tremendous resource for fleets to evaluate the range of options available and under development as they advance their strategy to meet and exceed sustainability goals.”

As zero-emission regulations take hold in 11 states and a new emission standard deadline for model year 2027 looms nationally, fleets struggle to comply with a confusing new regulatory landscape. For fleets trying to deploy zero-emission technologies to meet some of these or their own goals, charging infrastructure gaps, consistently high battery and production costs, and power capacity constraints resulted in project delays in 2023, all of which are expected to persist for several years.

This year’s brief offers clarity for the industry on developments in the markets for renewable fuels and electricity paired with diesel, near-zero, and zero-emission vehicles with the following key findings:

  • Among fleets using efficiency technology and practices in the annual survey, 63% expect diminishing returns on new investments of this type going forward.
  • Renewable diesel (RD) consumption increased by 68% in 2023 compared to 2022, with most consumption occurring where favorable carbon credit markets ensured price parity with diesel.
  • The price of the highest blend of biodiesel (BD) commonly used, B20, dropped 9% to $3.25 per diesel gallon equivalent (DGE).
  • Retail price of compressed natural gas (CNG) averaged 50% less expensive than diesel in 2023 at $3.04/DGE.
  • Fleets using CNG met 70% of their fueling needs with renewable natural gas (RNG) on average in the annual State of Sustainable Fleets fleet survey.
  • RNG producers opened more than 150 new facilities while maintaining a queue of at least 300 projects in 2023.
  • The carbon intensity of RNG on California’s Low Carbon Fuel Standard market improved 21% between 2022 and the first three quarters of 2023.
  • Production of a lighter and stronger 15-liter natural gas engine begins in 2024, expected to open opportunities for many more fleets and lead significant growth in natural gas vehicle sales.
  • Natural gas–fueled linear generators began operations to charge battery-electric Class 8 trucks.
  • Battery Electric Vehicle (BEV) adoption surged as more than 26,000 buses, trucks, and vans were delivered in 2023, doubling the number of BEV deliveries made in 2022.
  • Commercial cargo vans and pickup trucks made up for 90% of all BEV deliveries in 2023, 95% of which were dominated by two manufacturers—Ford and Rivian.
  • BEVs account for only 1-2% of all vehicles in the fleets of early adopters in the annual survey, though 90% of users of this technology expect their use to increase.
  • Multiple fleet-dedicated charging depots opened or were in construction in 2023 while numerous providers of leasing and “as a service” vehicle and charging services were announced.
  • The U.S. DOE’s historic allocation of $7 billion will fund seven proposed hydrogen fuel production and distribution hubs spanning 16 states.
  • The average retail price of hydrogen in 2023 nearly doubled from mid-2022 levels to as much as $36/kg in California.
  • The price of propane autogas averaged $1.71 per GGE for private retail, the most common fueling approach among fleets, compared to $3.58 per gallon of gasoline at public stations.

The State of Sustainable Fleets Market Brief is the leading source of information on sustainable technology decisions being made by America's on-road fleets. The annual analysis gathers real-world data directly from early adopter fleets across the U.S. to provide deep sector-specific insights into the adoption of battery-electric, natural gas, propane, and hydrogen fuel cell electric vehicles and renewable fuels, against a baseline of diesel and gasoline vehicles.

The analysis provides insights into public, private, and for-hire fleets, including school bus, shuttle, state/county/municipal, urban delivery, refuse, utility, transit, regional-haul, long-haul, drayage, and off-road cargo handling sectors. This first-of-its-kind assessment, developed annually, includes unique insights into vehicle sale trends, anticipated vehicle development timelines, real-world infrastructure and fuel costs, and the growing adoption of renewable fuels.

By “Move Ahead” Staff

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Penske Truck Leasing today announced it has recently completed the acquisitions of Star Truck Rentals, Inc., a transportation services company offering full-service leasing, commercial truck rental, contract maintenance, used truck sales and additional services and Kris-Way Truck Leasing, Inc., a transportation services company offering full-service leasing, commercial truck rental, contract maintenance and dedicated contract carriage.

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Penske Truck Leasing reached an agreement to acquire Star Truck Rentals, Inc., a transportation services company offering full-service leasing, commercial truck rental, contract maintenance, used truck sales and additional services. Financial terms were not disclosed.

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Penske Truck Leasing has reached an agreement to acquire Star Truck Rentals, Inc., a transportation services company offering full-service leasing, commercial truck rental, contract maintenance, used truck sales and additional services. Financial terms were not disclosed.

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The Women in Trucking Association (WIT) has named Christiane Meyer, director of strategic accounts for Penske Logistics, to its 2023 list of Top Women to Watch in Transportation. This prestigious list recognizes top performers who go the extra mile to advance gender diversity in transportation.

“This is a wonderful opportunity to highlight the invaluable contributions of women in our industry,” said Meyer. “I’m proud to work alongside so many talented women here at Penske with a shared commitment to mentorship, service and advocacy.”

Portrait of Christiane Meyer

Meyer holds the most senior direct sales position at Penske Logistics and serves as a critical advisor to some of the top players in the automotive industry. Customers rely on her expansive supply chain expertise, which spans trucking, warehousing, sea and air freight, 3PL and 4PL services and beyond. A German native who officially became an American citizen in 2016, Meyer brings a truly global perspective to her role that is indispensable to Penske’s international partnerships.

Meyer has also demonstrated a strong commitment to mentoring fellow women in logistics, having formally mentored five women and informally serving as a role model to countless others. She has won the Pyramid Award, Penske Logistics’ top sales honor, twice and has received the Winner’s Circle distinction for outstanding sales performance 10 times. She is a member of the Council of Supply Chain Management Professionals and Women in Defense.

Each year, the Top Women to Watch list is selected by the editorial staff of Redefining the Road, WIT’s official magazine. It has previously featured Angela Tracy, director of enterprise sales for Penske Truck Leasing; Chavela Brown, area vice president for Penske Truck Leasing; and Amy Ilyes, vice president of logistics engineering at Penske Logistics. Penske is a proud partner of WIT and has been honored as a Top Company for Women in Transportation for the past four consecutive years.

By Emily Foreman

Jamie Rigot, vice president of dedicated contract carriage operations for Penske Logistics, has been named among the winners of Supply & Demand Chain Executive’s 2022 Women in Supply Chain Award. The award honors female supply chain leaders whose accomplishments and mentorship set a strong foundation for women at all levels of a company’s supply chain.

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LeAnne Coulter, vice president of freight management for Penske Logistics, has been named a finalist for the Women in Trucking Association’s 2022 Distinguished Woman in Logistics Award. This prestigious award honors the contributions, achievements and influence of exceptional women leading the North American transportation industry.

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The Women in Trucking Association (WIT) has named Penske’s Angela Tracy, Director of Enterprise Sales, to its 2022 list of Top Women to Watch in Transportation.

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Penske Transportation Solutions is proud to once again be a Diamond Sponsor of the Women In Trucking Association's (WIT) Accelerate! Conference & Expo. The conference will take place Nov. 7-9 in Dallas, Texas.

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For the third consecutive year, Penske Transportation Solutions is once again featured on the Women in Trucking (WIT) association's list of "Top Companies for Women to Work for in Transportation."

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Some of society's most vulnerable, already facing the challenges of a hard life, are often exploited by human traffickers who force their victims into a cycle of physical and sexual abuse.

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Penske Transportation Solutionshas signed-on to support and sponsor the Truckers Against Trafficking (TAT) organization, a nonprofit organization that exists to educate, equip, empower and mobilize members of the trucking, bus and energy industries to combat human trafficking.

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The Women In Trucking Association (WIT) welcomes Penske Transportation Solutions as its newest Gold Level Partner, helping the non-profit organization empower more women in the transportation and logistics industry. Jennifer Sockel, executive vice president, talent and enterprise services at Penske Transportation Solutions, will serve on the WIT Board of Directors.

Since joining in 2014, the company has actively participated in the association as a corporate member. Now supporting WIT at the Gold Level, the company is furthering its commitment to advancing gender diversity in the industry.

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