- Cox Automotive publishes industry-first four-year market forecast by fuel-type
- Used market predicted to grow by 11% by 2028
- ICE share of registrations will contract to 38% - diesel will drop to 3%
- Volume of ICE vehicles joining the used car parc by 2028 set to decline 69%
- Change comes on top of 3.1 million cars lost since 2020
The first ever four-year forecast by fuel type has been revealed by Cox Automotive.
The forecast projects new and used volumes for the next four years (2024-27, presenting this in context to the past four-years (2020-23 – the pandemic and recovery years) and the four-years prior (2016-19).
It illustrates the dramatic shift we will see in the 0-4 year-old car parc, with the volume of ICE cars dramatically falling from today’s numbers while manufacturers continue to prioritise EV and hybrid.
Click here to read the report.