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Big Oil just woke up to the threat of rising EV demand

Let's hope this trend of electric vehicles continues to go up.

Big Oil Just Woke Up to Threat of Rising Electric Car Demand - Bloomberg

The world’s biggest oil producers are starting to take electric vehicles seriously as a long-term threat.

OPEC quintupled its forecast for sales of plug-in EVs, and oil producers from Exxon Mobil Corp. to BP Plc also revised up their outlooks in the past year, according to a study by Bloomberg New Energy Finance released on Friday. The London-based researcher expects those cars to reduce oil demand 8 million barrels by 2040, more than the current combined production of Iran and Iraq.

Growing popularity of EVs increases the risk that oil demand will stagnate in the decades ahead, raising questions about the more than $700 billion a year that’s flowing into...
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Ashlem Jul 14, 2017 Read More Replies: 7
Prodigyplace

Level 3 Autonomous Car Announced

The Audi A8: the World's First Production Car to Achieve Level 3 Autonomy

Level 3 means the driver needn’t supervise things at all, so long as the car stays within guidelines. Here that involves driving no faster than 60 kilometers per hour (37 mph), which is why Audi calls the feature AI Traffic Jam Pilot.

from The Audi A8: the World's First Production Car to Achieve Level 3 Autonomy - IEEE Spectrum

Prodigyplace Jul 13, 2017 Read More Replies: 27
bwilson4web

Brace for Impact: U.S. Sales Plunge Ahead

Source: http://wardsauto.com/industry/brace-impact-us-sales-plunge-ahead

AlixPartners forecasts 2017 sales of 16.9 million units, down from a record 17.5 million last year. WardsAuto forecasts 17.1 million light-vehicle deliveries this year. Looking further ahead, AlixPartners thinks sales will tumble to 15.2 million in 2019, a forecast that runs counter to many others that see industry sales enjoying a long-term plateau near current levels.
. . .
Wakefield says a key element of the consultancy’s forecast is a “used-car time bomb” set to go off as 500,000 more vehicles will come off lease this year than year-ago. The flood of previously owned cars and trucks likely will double the 13% drop in used-vehicle prices the industry has witnessed since 2014.

“Our biggest concern is used cars,” says Wakefield, who sees the price drop costing automakers’ captive-finance companies upwards of $5 billion....

bwilson4web Jul 13, 2017 Read More Replies: 3