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Thursday, June 2nd, 2022

Report: Sales of internal combustion vehicles now in “permanent decline”

Author:     Peter Valdes-Dapena,
Source:    
Publication Date:     Wed June 1, 2022 | 2:32 PM ET
 Link: Report: Sales of internal combustion vehicles now in “permanent decline”
Stephan:   Here is some good news about the transition out of the carbon era. I want you to take particular note that, as this report describes, this trend is being driven not by corporate choice but by individual buyer choice. It is another example illustrating how when individuals reach a consensus on something it happens. IT is an example of the 8 Laws of Change in action.
Electric Hummer Credit: Motor Trend

Sales of non-plug-in internal combustion-powered vehicles peaked in 2017, according to a report by industry analysts at Bloomberg New Energy Finance, and have been in “permanent decline” since then as sales of plug-in hybrid and electric vehicles increase.

Sales of plug-in vehicles are also expected to triple their current levels by 2025, according to the report.

“Most importantly, the market is shifting from being driven primarily by policy, to one where organic consumer demand is the most important factor,” lead authors Colin McKerracher and Aleksandra O’Donovan wrote in the BloombergNEF report.

In 2025, the global auto industry will sell 20.6 million plug-in vehicles, according the report, compared to 6.6 million this year. Sales of purely internal combustion-powered vehicles, while projected to still make up the majority of total car sales in 2025, will have decreased.

Fully battery-powered vehicles will make up 75% of plug-in vehicle sales by 2025, according to the report. Plug-in hybrid vehicles are not expected to make a significant percentage of plug-in vehicle sale outside of Europe. Sales of plug-in hybrids will peak around 2026, […]

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