Report: Internal Combustion-Powered Vehicles in Decline

June 6, 2022

The Bloomberg New Energy Finance report points to consumer demand for electric vehicles as the catalyst. 

June 6, 2022—Bloomberg New Energy Finance industry analysts have reported that since 2017, sales of non-plug-in internal combustion-powered have peaked and are now in decline.

Analysts cite consumer demand for electric vehicles as the deciding factor.

The report, according to CNN, also says that by 2025, sales of purely internal-combustion-powered vehicles, while still the most dominant vehicles on the road, will see a decrease as the global auto industry predicts sales of $20.6 million in electric vehicles—a $13 million increase from 2022. 

These findings reflect the attitude of consumers and automakers alike, such as General Motors, which has pledged to sell only emission-free vehicles by 2035, as EV sales in the US are reportedly going to continue a sharp upward trend over the next decade.

About the Author

Ratchet+Wrench Staff Reporters

The Ratchet+Wrench staff reporters have a combined two-plus decades of journalism and mechanical repair experience.

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