Global sales of petrol and diesel cars peaked in 2018, according to industry experts, and are set to decline as alternatively fuelled vehicles (AVCs) take over.
A report by the Financial Times predicts sales of petrol and diesel cars are set to fall or slow compared to the rate of growth of alternatively fuelled vehicles.
"At the beginning of the year we had a more optimistic perspective for the global market,” said Felipe Munoz, global automotive analyst for Jato Dynamics, told the FT. "This has changed in the last six months.”
“We will probably see the peak of combustion engine car sales in 2018 based on global sales through October, plus estimates for November and December,” added Munoz.
“When you look at 2018 since the summer, new car sales in all of the import markets are going down,” added industry analyst Axel Schmidt. "Selling combustion engine cars to customers – this will not grow in the future.”
Sales of petrol and diesel cars were predicted to grow into 2022 but that looks set to change based on factors in the US, China, and Europe, predict experts.
Stricter emissions restrictions and Brexit are expected to affect sales in Europe, and the ongoing trade war between the US and China is expected to have an impact on sales.
Sales of combustion engines in the UK are still expected to represent the largest market share but the report believes that it has hit its peak and will begin to decline.
Consumers are expected to gravitate towards zero-emission electric and hydrogen cars.
No comments yet