Sales of alternative powered vehicles, while currently representing just 5% of all U.S. light-vehicle sales today, are expected to reach 45% by 2035, according to new SEMA market research.
Eighteen of the top 20 global automakers, which together represent around 90% of new car registrations worldwide in 2020, plan to widen their portfolio of alternative-power models and scale up their production of electric vehicles.
Three quarters of Americans still prefer gas or diesel and have concerns about charging infrastructure, driving range and price, however SEMA’s research indicates it will still gain a foothold.
EVS to make up 2% of 2025 car parc in UK
However, GiPA, UK is predicting that electrified vehicles will represent 20% of the passenger car parc by 2025. The growth in volume of hybrids and electric car sales has been accelerating in 2020, and the UK government roadmap published lays out the target for the ICE (Internal Combustion Engine) ban by 2030. While new car sales and the government’s goals are aligned, it is crucial for aftermarket players to understand the true pace of this transition to plan and implement their future strategy.
To support the aftermarket, GiPA UK has built a car parc forecast tool that captures a complete picture of the UK car parc regarding size, age, and engine type distribution by 2025. GiPA UK has used this tool to build two car parc scenarios and has forecast that electrified vehicles will represent between 19% and 21% of the UK passenger car parc by 2025.
That means that one out of five cars on the road in 2025 will be electrified, and as such the need for aftermarket players to include those vehicles in their future business strategy is paramount.