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Electric car sales around the world rose by 54 percent in 2017, taking global stock across the three-million threshold, the International Energy Agency said in a report. In China, the world’s biggest market for electric vehicles, sales grew by about half – but their market share remained small at 2.2 percent. In Norway, electric vehicles have by far the world’s highest market share with 39.2 percent according to the IEA. The Paris-based agency was optimistic about the sector’s prospects saying that supportive policies and cost reductions are likely to lead to...
A new report says that electric car sales are expected to massively increase in the next years, reaching 55 percent of global new car sales by 2040, replacing 7 percent of gas and diesel consumption. Sales of electric cars have just managed to top 1.1 million per year, but the report from Bloomberg New Energy Finance suggests that they are set to grow to 11 million in 2025 and topping 60 million vehicles, which will be about 55 percent of the new car market, by 2014. The prediction is that electric vehicles will replace 33 percent of the total global car fleet by then. Helping to le...
Car dealerships in Scandinavia, and perhaps beyond, have something against electric vehicles. That’s the conclusion of an investigation conducted by researchers in Nordic countries, where they visited car dealerships and found agents actively discouraging buying electric cars. To conduct the investigative study, the researchers visited 82 car dealerships in Denmark, Norway, Sweden, Iceland, and Finland. In two-thirds of their visits, agents steered the researchers toward gas-powered cars, sometimes dismissing electric vehicles outright. In three-fourths of the visits, ve...
When President Xi Jinping announced measures to further open up China’s auto industry to foreign automakers, the global industry initially cheered. Now the cheering has stopped. As details are emerging, foreign auto executives said that this initiative was too narrow and vague to change business on the ground. Central to Mr. Xi’s plan is that it will allow foreign automakers to own Chinese factories, instead of working through a 50-50 Chinese partner, as is currently required. But it turns out that auto executives were comfortable with the current system. Ford’s vi...
Most auto industry execs think that half of today’s car owners will lose interest in owning a car by 2025. Of the nearly 1,000 execs surveyed via KPMG for Business Insider Intelligence, 60 percent agree, while 22 disagree, and 8 percent strongly disagree. That’s not very representative because it targets people who already see the value of a car and ignores millennials who may never own a vehicle. While there is some mixed opinion about millennial attitudes toward car ownership. That generation is buying fewer cars than previous generations at their age.  ...