Automobiles of the future will be as different from today as the first automobiles differed from the horse and buggy. Driverless cars will be significantly more energy-efficient, safer, less damaging to the environment, and more economical to operate than any mode of transportation in the human experience.
By 2050, there will be about 3 billion light-duty vehicles on the road worldwide, up from 1 billion now. At least half of them will be powered by internal combustion engines (ICE), using petroleum-based fuels.
The e-vehicle market is expected to grow at a robust CAGR of 43.13 percent from 2019 to 2030, which, in itself, says enough. C.A.S.E isn't just a jargon in a presentation anymore – it has become a reality. It is shaping the future of the automobile industry and making the transport safer, convenient and greener.
In future, they will be able to communicate, work, surf the internet or access multi-media services during the journey. electrified, autonomous, connected and shared will lead to a clear increase in the rate of innovation within the automotive industry.
According to the latest estimates, global car sales will decline between 20 and 30 percent in 2020. Moreover, depending on the region, it may take up to four years to recover to pre-COVID-19 levels. While plants remain shut down, many people are in short-term jobs or working from home due to pandemic measures.
Vehicles on the road in 2021
The vast majority run on gasoline. Fewer than 1 percent are electric. ... Even in 2050, when electric vehicles are projected to make up 60 percent of new sales, the majority of vehicles on the road would still run on gasoline. Slow fleet turnover is a major challenge for climate policy.
To conclude, the car of the future, built according to a new model, will be electric, autonomous and connected. It will bring a number of benefits to society: less pollution, more safety, more free time and services. ... It's a real challenge for the automotive industry.
Electric vehicles will account for about 10 percent of new vehicle sales by 2025. Hybrids will reach a 40 percent share. The connectivity of cars will be a key factor in 2025 and beyond. The study predicts that many vehicles will be permanently online, sending and receiving information via the internet.
Moody's – Outlook for global automotive industry changed to stable on expected recovery in sales. ... "The stable outlook for the global automotive industry reflects rising sales through 2021, with continued, but slow, increases through 2023," said Bruce Clark, a Moody's Senior Vice President.
The global automotive industry will witness double-digit growth in 2021 but it will not be enough to make up for the slump caused by the coronavirus (Covid-19) pandemic. New car sales will rise by 15% in 2021, following a fall of 18% in 2020.
This week UBS predicted the end of the ICE (internal combustion engine) age, saying that global new cars would be 20% (minus a few plug-in hybrids) electric in 2025 and 50% by 2030 (4% plug-in hybrids). ... Its latest global passenger car forecast sees 15% market share in 2025, and 23% in 2030.)
Competitive Rivalry
The second force of competition in the industry is the rivalry between competitors. The internal rivalry in this industry is moderate. The car industry is oligopolistic with 10 global manufacturers controlling over 70 percent of the global car market according to 2013 statistics (OICA, 2013).
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