Last updated on December 8th, 2022 at 02:43 pm
ICE car sales will not return to previous levels
Experts of the analytical company ABI Research have prepared a forecast of the future of electric vehicles. In their opinion, in 2021, a decade of a gradual penetration of electric vehicles into the mass segment will begin. Within ten years, electric vehicles’ sales will increase from values comparable to round-off error to about a quarter of new car sales.
Next year, electric vehicles will gradually enter the mass segment.
“This shift from niche to mass consumption will be based on the introduction of low-cost EV models that meet standard mileage requirements at an affordable price,” said James Hodgson, principal analyst for Smart Mobility & Automotive at ABI Research.
Analysts warn that as electric vehicle owners become fewer environmentalists and technology enthusiasts increasingly, but more typical car users, manufacturers will have to develop new approaches to EV lifecycle management, including batteries’ fate.
Simultaneously, ABI Research is confident that sales of cars with internal combustion engines will not return to their previous level. The pandemic has dealt a double blow to an already volatile automotive market, disrupting supply chains and depriving the industry of its familiar retail environment. As a result, in the first half of 2020, the new car market declined by about 70%. With the potential for re-locks and the move to teleworking, sales are expected to remain low through 2024.
