Study shows that car sales decline due to boom in car service

According to foreign media reports, a study released on Tuesday showed that with the increase in consumer demand for on-demand travel services such as Uber, the global car sales will decline in the next 20 years, but the demand for oil will continue rise.

According to a study by IHS Markit, a global energy research organization, by 2040, more than 80% of cars sold worldwide will still use engines that use certain types of oil as fuel.

The study predicts that the annual sales of private cars in the United States, Europe, China, and India will decline sharply in the next 23 years. By 2040, the sales of private cars may drop to 54 million vehicles, while the total mileage of automobiles will increase by 65% ​​annually. It reaches about 11 billion miles. Currently, about 67 million cars are sold in these areas each year.

Although car sales will be reduced, oil demand is expected to increase from the current 98 million barrels per day to 115 million barrels per day in 2040, especially for non-transportation purposes.

According to IHS Markit, by 2040, battery-powered electric vehicles will account for 19% of car sales. On November 2, the Boston Consulting Group predicted that by 2030, pure electric vehicles will account for about 14% of the total vehicle production.

IHS Markit predicts that by 2040, plug-in hybrid electric vehicles - that is, vehicles combining a motor and an internal combustion engine - will account for 14% of total vehicle sales.

In an interview, Tom, head of transportation and mobility at IHS Markit, said that consumers are beginning to accept the advanced technologies used in electric and self-driving cars.

Daniel Yergin, IHS Markit’s vice president, believes that although the promotion of electric vehicles is driven to a certain extent by technological advances and government policies, the consumer-driven car service has been used to promote electric vehicles. The same can not be ignored. At present, the on-demand service is very popular, about the car, which service providers are no lack of Uber Technology and China's big companies such as Didi travel.

Eugene also said that the company was surprised when it saw that the demand for oil had risen rather than decreased. Eugene also noted that automotive oil accounts for only one-third of oil demand.

The authors of the study expect that with the rise in oil demand and the natural drop in the output of existing oil fields, by 2040 there will be an increase of 43 million barrels of oil per day.