Global sales of combustion engine cars have peaked

To decarbonize road transport, the world must move away from petrol (gasoline) and diesel cars and towards electric vehicles and other forms of low-carbon transport.

This transition has already started. In fact, global sales of combustion engine cars are well past the peak and are now falling.

As you can see in the chart, global sales peaked in 2018. This is calculated based on data from the International Energy Agency. Bloomberg New Energy Finance estimates this peak occurred one year earlier, in 2017.

Sales of electric cars, on the other hand, are growing quickly.