An analysis of sales of light-duty vehicles — in other words, cars — in 2018 in the world’s three biggest vehicle markets show that gas buggies are surrendering ground to electric cars.
China is not only the world’s fastest growing vehicle market but also the world’s largest producer of EVs. In 2018, sales of fossil-fuel powered cars dropped by 800,000 while sales of electrics rose by 500,000. With more than 300 models of EVs for Chinese buyers to choose from, sales are expected to as much as double this year over last.
The European vehicle market saw combustion-engine cars drop 40,000 sales in 2019 compared to 2017 while electrics’ sales gained 101,000 in that time. As in China, regulations and outright bans on fossil-fuel vehicles are speeding the shift, which could propel EV sales to as much as 600,000 this year, according to some analysts.
In the US, sales of conventional cars in 2018 fell by about 130,000 from 2017’s mark while electric cars logged 360,000 units sold. TJ
TREND FORECAST
Some analysts are forecasting that 2018 will prove to have been the peak sales year for combustion-engine cars. Most agree that EVs will outsell gas-powered vehicles before 2030 as EV sticker prices drop below those of fossil-fuel cars, just as the long-term cost of ownership already has.