Electric car sales to rise but affordability in focus, IEA says

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The pace of electric vehicle uptake will mean that oil demand for road transport should peak around 2025, the Paris-based watchdog said in its Global Electric Vehicle Outlook

Electric car sales will rise strongly in 2024 and increasingly undercut oil demand, the International Energy Agency forecast on Tuesday, adding affordability and charging infrastructure would be key to future growth.

“Tight margins, volatile battery metal prices, high inflation, and the phase-out of purchase incentives in some countries have sparked concerns about the industry’s pace of growth, but global sales data remain strong,” it said of EV demand. Take up in Europe is being held back by “a generally weak outlook for passenger car sales and the phase-out of subsidies in some countries”, it said.

 

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Electric car sales to rise but affordability in focus, IEA saysElectric car sales will rise strongly in 2024 despite economic headwinds in some markets, the International Energy Agency (IEA) forecast on Tuesday, but...
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