Fender Bender Feb 2020 / Read original article here
Internal combustion engine (ICE) cars and light trucks on U.S. roads will climb by 36 million between now and 2030, despite predictions of their rapid replacement by electric vehicles.
That’s according to a new report from Lang Marketing Resources, an automotive market intelligence firm.
The dominant ICE share of vehicles in operation (VIO) going forward, recording an approximate 95 percent share during 2030, will generate robust aftermarket parts and repair volume in the U.S. for many years.
“Peak ICE, the year when Internal Combustion Engine vehicles reach their maximum number, could arrive as late as 2035,” predicts Jim Lang, president of Lang Marketing and lead author of the report.
Electric vehicles (battery electric vehicles and plug-in electric hybrids) represented less than two percent of the 2019 new vehicle market. Their annual volume will increase fourfold by mid-decade, accounting for nearly eight percent of 2025 light vehicle sales. EV volume will reach 2.9 million during 2030, double their 2025 share.
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