Detroit Bureau on Twitter

Posts Tagged ‘IHS Markit study’

Fewer Autos Will Drive More and Oil Use Will Rise by 2040

Study says vehicle sales will drop, but mobility companies will prosper.

by on Nov.14, 2017

Mobility is coming and, in spite of their best efforts, it appears it will be at the expense of the world’s automakers, according to a new IHS Markit study.

The study reveals auto sales are going to decline steadily between now and 2040, especially in large markets such as the United States, China and India, the number of miles driven will continue to rise. Perhaps just as surprising, more than 80% of those miles will be traveled in vehicles using some form of gasoline- or diesel-powered vehicles.

News Now!

Researchers predict that annual sales of privately owned vehicles in the United States, Europe, China and India will decline from 67 million vehicles annually to 54 million in 2040. However, the number of miles traveled globally will rise 65% to around 11 billion miles a year. (more…)