Many may argue that fossil fuel-powered cars and trucks will be on our roadways for decades to come, but make no mistake: The writing is on the wall for their eventual demise.
Global markets are committing to electric vehicles. Just last year, EVs made up nearly three-quarters of all cars sold in Norway and more than half of those sold in Ireland. Automakers are committing to new milestones, with Audi, Hyundai, Toyota and Volkswagen announcing plans for millions of electrified vehicles on the road by 2025 and General Motors promising a gradual phase-out of gasoline-powered cars and light-duty trucks in favor of EV technology by 2035. The Biden administration has set a goal of 50 percent new-vehicle sales being zero-emission models by 2030.
The same can be said for vehicles with human drivers. According to a report, global sales of autonomous vehicles are expected to top $3 trillion by 2030, accounting for close to half of the projected market. A large number of us might still be reluctant at that time to hand over our keys to a car that navigates via camera and a sensor-equipped computer but, either way, it shows that the automotive market is changing in very fundamental ways.