According to BloombergNEF (BNEF) analysts, who have studied demand in the global auto market, sales of gasoline and diesel cars will not return to pre-pandemic levels. In 2017, 86 million vehicles were sold worldwide, the highest figure. In 2020, a sharp decline in sales of internal combustion engine cars, which was caused by the coronavirus pandemic, began, and then an active entry into the electric car market.
According to analysts, the trend of gradual transition to electrified models can be seen in most major markets. It is especially characteristic of China, where demand for fuel-powered vehicles has fallen by 28% in five years. Similar developments are also taking place in Europe, North America and the growing market of Southeast Asia.
*This material was created by a person who has the status of a foreign agent in the Russian Federation.
From 2026, the market for ICE cars will begin to decline severely as the industry transitions to electric cars, infrastructure develops and the green fleet grows.
Earlier this year, the European Parliament backed the transition to electric vehicles by 2035. However, an important vote to ban petrol and diesel cars had to be postponed in early March as Germany demanded that a more flexible approach to the moratorium be considered.
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Source: Bloomberg