Worldwide electric car registrations are set to fall 18% this year, but those of combustion engine cars are set to drop even faster, analysts BloombergNEF (BNEF) said on Tuesday, as the automotive sector is hammered by the coronavirus crisis.
FILE PHOTO - Electric car charges on a street in London, Britain, February 4, 2020. REUTERS/Antonio BronicThe temporary closure of showrooms amid lockdowns to contain the spread of the COVID-19 virus has disrupted sales and undermined consumer confidence, BNEF said in its annual global outlook for electric vehicles.
“The long-term trajectory has not changed, but the market will be bumpy for the next three years,” he added. Electric car sales this year were forecast at 1.7 million, adding to the 7 million already on the road.The electrification of transport, driven by anti-pollution legislation, is forecast to remove 17.6 million barrels per day of oil demand by 2040, up from 1 million bpd currently, while electric cars could add 5.2% to power demand by that date, BNEF estimated.
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