Oil consumption continues to rise in the U.S. and around the world, but as electric vehicles keep growing as a percentage of vehicle sales, there will ultimately be a tipping point on multiple fronts. The first will be manufacturers investing in more EVs to ultimately overtake internal combustion engines, which is happening today from Tesla
The future is not looking bright for oil, according to a new report that claims the commodity would have to be priced at $10-$20 a barrel to remain competitive as a transport fuel. The new research, from BNP Paribas, says that the economics of renewable energy make it impossible for oil to compete at current
As automakers race to electrify their model lineups, the competition to stand out has never been greater. Luckily, thanks to electrification, the opportunities to develop new designs are abundant. But if automakers want to succeed, designers need to seize these new opportunities and start developing the cars of the future. Car companies have followed the
Up to one million battery electric and plug-in-hybrid vehicles (EVs) are expected to be sold next year in the EU, consolidating the bloc’s position as the world’s second largest electric car market after China. In 2020, EV sales will equate to around five per cent of total car sales, and around ten per cent by
Hybrids and EVs see 29% sales boost as European industry sees a return to growth Europe’s new car market saw a return to growth in July, with new registrations rising 1.2% over the previous year. Figures released by analysts Jato Dynamics revealed that 1,325,600 models found homes in July, with the increase largely driven by
Residual values for used electric vehicles (EVs) are growing as demand for zero-emission vehicles ramps up. Shoreham Vehicle Auctions says the UK has reached a “tipping point of acceptance”. The electric van market is growing with low mileage business users accepting the benefit of running a used van with very low running costs. SVA’s managing
New car registrations were down 4.1 per cent last month, making it the worst July for new car sales since 2012, figures show. In total, 157,198 new cars were registered in July, 6,700 fewer than the same month last year, according to data from the Society of Motor Manufacturers and Traders (SMMT). The motor industry
The number of electric car models available to consumers in Europe is expected to triple by 2021, says a European environmental lobby group. The uptake of electric cars has been stalling, blamed on a lack of charging infrastructure and higher prices. Latest data shows carmakers will offer 214 electric car models in 2021, up from
UK’s first car vending machine unveiled – and you can pay with your phone
It contains a brand-new Renault Zoe with a “pre-haggled” price of £16,000 Britain’s first contactless car vending machine has been unveiled by Auto Trader, offering motorists a haggle-free way to purchase a new car. The bespoke vending machine, installed at Spitalfields Market, allows purchases of up to £21,000 via contactless payment using a smartphone. It
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