If this graph is the evidence for "Global sales of combustion engine cars have peaked" isn't it also the evidence proving "global car sales have peaked"?
Total cars down by 5-6%, and lower than 6 of the previous 13 years.
Combustion cars down by 24%, and lower than 12 of the previous 13 years.
My question is, are these sales for brand new cars or does it include used cars also ?
I know my days of buying brand new ended years ago due to how expensive new cars are. My current car (bought used) is from 2007 and if I have to buy another, it will be used.
So I have to wonder, are people avoiding buying new due to the expense. That could point to a reason. Would be interesting to see charts based upon Country or group of countries.
Every scrapped car is a used car
But EVs are eating enough market share that combustion cars are likely never climbing past their peak again.
But you’re right, increasing urbanisation globally leads to more public transport which offsets countries getting richer.
What population growth?
Even in 2024 there were still some production issues coming out of the covid years. 2023 had lots of issues.
So it's unclear what's actually going to happen, if normal markets resume.
(At least in North America, the car manufacturing market will go bananas soon with new tariffs)