article thumbnail

S&P Global Mobility: average age of light vehicles in US hits record high 12.5 years

Green Car Congress

With more than 284 million vehicles in operation (VIO) on US roads, the average age of cars and light trucks in the US has risen again this year to a new record of 12.5 years, up by more than three months over 2022, according to the latest analysis from S&P Global Mobility. light duty aftermarket in 2022 have grown to $356.5

Light 273
article thumbnail

IDTechEx forecasts global production of electric LCVs to exceed 2.4M units annually by 2030

Green Car Congress

In a new report, “ Electric Vans 2020-2030 ”, UK-based IDTechEx forecasts that global production of electric LCVs will exceed 2.4 European Light Commercial Vehicle Sales 2018. IDTechEx says that the light commercial vehicle market is uniquely positioned to rapidly transition to electric vehicles.

Global 259
article thumbnail

IEA forecasts global oil demand to reach 101.6 mb/d in 2023; non-OECD countries lead expansion

Green Car Congress

The IEA June 2022 Oil Market Report (OMR) forecasts world oil demand to reach 101.6 mb/d in 2023, according to the forecast. Global refining capacity is set to expand by 1 mb/d in 2022 and 1.6 Following nearly two years of declines, observed global oil inventories increased by 77 mb in April. mb/d in 2022 to 2.2

Oil 210
article thumbnail

IHS Markit: supply chain challenges to impact global light vehicle production well into 2022

Green Car Congress

This threatens the operators at the assembly and test locations themselves as well as the workers necessary to move the finished products to distribution hubs for global distribution, IHS said. Global Light Vehicle Production Forecast Implications. million units globally, according to IHS Markit estimates.

Light 186
article thumbnail

EIA projects global conventional gasoline and diesel LDV fleet will peak in 2038

Green Car Congress

In the US Energy Information Administration’s (EIA’s) International Energy Outlook 2021 , released earlier this month, the EIA forecast that the global light-duty vehicle (LDV) fleet will grow from 1.31 of the global LDV fleet in 2020 to 31% in 2050, reaching 672 million vehicles. billion vehicles in 2020 to 2.21

Fleet 243
article thumbnail

IHS Automotive forecasts 88.6M unit global light vehicle market in 2015; 2.4% growth

Green Car Congress

IHS Automotive forecasts global automotive sales for 2015 to reach 88.6 For the APAC region in 2015, IHS forecasts that China’s economic growth will decelerate further, to 6.5% However, IHS Automotive analysts still expect light vehicle sales in China to grow by 7% in 2015 to 25.2 million, an increase of 2.4%

2015 150
article thumbnail

PwC’s Autofacts forecasts global light vehicle assembly to reach 81.8M units in 2013, up 3.3% from 2012

Green Car Congress

Global light vehicle assembly will reach 81.8 Consumer demands and regulatory requirements are motivating the global automotive industry to push ahead with technological breakthroughs on a larger scale ,” said Rick Hanna, PwC’s global automotive leader. The region is now forecasted to produce nearly 16.2

2013 220