Dublin, Aug. 11, 2022 (GLOBE NEWSWIRE) -- The "North American Light Vehicle Growth Opportunities" report has been added to ResearchAndMarkets.com's offering. In 2021, North American light vehicle sales reached 16.8 million and is forecast to surpass 19 million by 2025 growing at a CAGR of 3.3%.
What will the automotive industry look like in 2025?
By 2025, 25% of cars sold will have electric engines, up from 5% today. But most of those will be hybrids, and 95% of cars will still rely on fossil fuels for at least part of their power. That means automakers will need to make internal combustion engines more efficient to comply with new standards.
What will the number of cars be like in 2050?
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.
What will happen to car sales in 2022?
While new car prices declined -1.4% in September from August's all-time high, they will likely remain elevated through the end of 2022 as inflationary pressures persist, before easing slightly in 2023. “There's still a lot of inflation bubbling up in the new vehicle supply chain.
What is the future of car industry?
A connected car is a vehicle that has its own connection to the internet that allows the car to share internet access and data with other devices inside and outside the car. With the demand for greater connectivity set to soar, 5G-enabled connected cars are earmarked to become the future of the automotive industry.