article thumbnail

IHS Markit: US gasoline demand could be cut almost in half due to COVID-19

Green Car Congress

The magnitude of gasoline demand decline will be much greater than the impact of the 2008 recession and could be further protracted depending on how effective social distancing measures are at controlling the spread of the COVID-19 virus. during the global recession in 2008/2009. IHS Markit forecasts 2020 US auto sales to be 14.4

Gasoline 269
article thumbnail

IHS Markit: average age of cars and light trucks in US rises again in 2019 to 11.8 years

Green Car Congress

From 2008-2013, however, the increase was 12.2%. The 40 percent drop in new vehicle sales due to the recession created an acceleration in average age like we’ve never seen before. This represents one of the highest annual increases the US auto industry has seen since IHS Markit began tracking VIO growth—second only to the 2.3%

Light 268
article thumbnail

Center for Automotive Research calls long-run economic risk to auto industry of mandating permanent fuel economy standards very serious; recommends periodic reviews

Green Car Congress

Based on the results of the study, CAR believes the economic risk to the auto industry connected to mandating permanent fuel economy standards in the long run is “ very serious ” The group recommends periodic review to assess the rate of technology development and cost reduction of advanced technologies leading up to 2025.

article thumbnail

All Western European Countries Will Have CO2-Related Car Taxation This Year; European Auto Industry Urges Harmonization of Schemes

Green Car Congress

The number of EU countries with CO2-related car taxation rose to 15 in 2008. In 2008, motor vehicle taxes in the EU 15 added up to €378 billion (US$501 billion) or 4.1%

CO2 150
article thumbnail

IHS: average age of light vehicles in US rises slightly in 2015 to 11.5 years; length of new vehicle ownership hits record high

Green Car Congress

million (2.1%) since last year and the highest annual increase the auto industry has seen in the US since IHS began tracking VIO growth. The rate of growth is slowing as compared to 2008-2013 due to the recovery in new vehicle sales. Looking ahead, IHS forecasts that average age is likely to hit 11.6 until 2018.

2015 150
article thumbnail

GM Shows Picture of New Chevrolet Agile for Mercosur Market

Green Car Congress

In 2008, it posted record annual sales (548,941 vehicles). GM was the first company in the Brazilian auto industry to provide 100% of its spark-ignited vehicles as flex-fuel. The Agile is targeted for emerging markets such as Brazil, Argentina, Paraguay and Uruguay (Mercosur). GM began doing business in Brazil in 1925.

Chevrolet 280
article thumbnail

IHS Markit: average age of light cars and trucks in US rises again in 2016 to 11.6 years; record number in operation

Green Car Congress

This represents the highest annual increase the auto industry has seen in the US since it began tracking VIO growth, breaking the record of 2.1% The recession created an acceleration beyond its traditional rate due to the nearly 40 percent drop in new vehicle sales in 2008-2009. growth set in 2015.

Light 150