Now PETROL cars to face huge decline in 2019, experts predict

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Experts have predicted that there could be a decline in petrol and car sales.

Many experts claim that 2018 was a peak year in terms of sales of internal communion engine (ICE) cars.

According to a report by the Financial Times sales of ICEs are set to fall or slow compared to the rate of growth of alternatively fuelled vehicles

“At the beginning of the year we had a more optimistic perspective for the global market,” said Felipe Munoz, global automotive analyst for Jato Dynamics, told the FT.

“This has changed in the last six months.” 

“We will probably see the peak of combustion engine car sales in 2018 based on global sales through October, plus estimates for November and December,” added Munoz.

“When you look at 2018 since the summer, new car sales in all of the import markets are going down,” added industry analyst Axel Schmidt.

“Selling combustion engine cars to customers – this will not grow in the future.”

ICE sales were predicted to grow into 2022 but that looks to change based on a number of factors in the US, China, and Europe, predict experts. 

In Europe, stricter emissions restrictions and and the ongoing trade war between the US and China are expected to have an impact on sales.

Sales of combustion engines in the UK are still expected to represent the largest market share but the report believes that it has hit its peak and will begin to decline.

Consumers are expected to gravitate towards zero-emissions models moving forward such as electric and hydrogen cars.

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This would fall in line with the UK banning the sales of new petrol and cars from 2025.

A number of car makers are set to bring new electric cars to market such as BMW, Audi, Mercedes Benz, Porsche and Volvo in 2019.

Electric cars are also becoming more affordable with high mile cars such as the Hyundai Kona EV and launching for less than £35,000.

Source
Daily Express :: Cars Feed
Cars

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