Global vehicle sales to fall by 2040, but oil demand to rise, study predicts

Global vehicle sales to fall by 2040, but oil demand to rise, study predicts

(Reuters) – Global vehicle sales will decline over the next two decades as consumers embrace on-demand ride services like Uber, but demand for oil will keep rising, according to a study released Tuesday. Imported cars are parked in a storage area at Sheerness port, Sheerness, Britain, October 24, 2017. REUTERS/Peter Nicholls Another counterintuitive finding from the study by IHS Markit was that more than 80 percent of the vehicles sold worldwide in 2040 will still use some form of petroleum-fueled combustion engine. Sponsored Annual vehicle sales in the United States, Europe, China and India will decline over the next […]

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