Nov. 19, 2021—A joint forecast from the Auto Care Association and the Automotive Aftermarket Suppliers Association found the EVs will make up 36 percent of the car parc by 2045.
“We are looking at evolution, not revolution,” Paul McCarthy, president and CEO of AASA, said in a statement. “While EV replacement parts sales will double in size between now and 2025, and again between 2025 and 2030, EVs still have a long road before they account for a large percentage of aftermarket sales.”
By 2045, 79 percent of all new vehicle sales are expected to be BEVs or plug-in hybrid electric vehicles, the report said.
“Given we already have a fleet of over 280 million vehicles, our industry will be driven by the internal combustion engine for the next couple of decades,” said Bill Hanvey, president and CEO of ACA, said in a statement.
Full results from the 2021 Joint Electrification Forecast from ACA and AASP is available for free to all members.
