"There are growing signs that global auto sales will continue their comeback
from the pandemic, chip shortage and other supply chain snarls. As the recovery
takes shape, it’s becoming clearer that sales of internal combustion vehicles
are unlikely to ever return to pre-pandemic levels.
Calling peaks is generally a no-win endeavor. The call will either be correct
but seem obvious after the fact, or wrong and cause for years of mockery. But
with 2022 data now available, BNEF is confident the global market for internal
combustion vehicles peaked in 2017 and is now in structural decline.
This may seem self-evident to those watching the market closely, but is likely
still jarring for others. Forecasts for oil demand issued just a few years ago
still assumed steady growth in sales of these vehicles well into the 2030s."
Via Future Crunch
*** Xanni ***
Chief Scientist, Xanadu
Partner, Glass Wings
Manager, Serious Cybernetics