According to IHS Markit, as the concept of transport-as-a-service becomes more acceptable to people and smart car technology is more mature, the number of people who choose to buy a car in the future will be less and less. It is estimated that by 2040, the total sales of light vehicles in China, Europe, India and the United States will reach 11 billion miles in total, up 65% from 2017, but by the end of the global total of the top four auto markets With an annual sales volume of just 54 million vehicles, 10 million of them are purchased by transportation service providers.
Daniel Yergin, vice chairman of IHS Markit, believes the auto industry will face a big dilemma as people rely less on cars and fewer people buy cars, a trend that will have a decisive impact on the automotive industry's future .
In addition, IHS Markit also estimates that only 62% of the new cars sold in the four major car markets will still use gasoline or diesel engines by 2040 and 38% will be electric vehicles.
