BP Sees Future Energy Demand Driving Hybrid Car Sales
Sales of fuel-efficient, hybrid cars may have got off to a sluggish start, but ownership is set to explode to account for more than half of all vehicles sold by 2030, as improving models, government incentives and rising petrol costs escalate demand, according to BP.
In its latest "energy outlook" report, the oil giant said phenomenal demand in India and China would drive up the number of cars worldwide from 1 billion to 1.6 billion by 2030.
Although this represents an increase of 60 per cent in vehicle ownership, the total amount of energy consumed by the world's cars will only rise by 26 per cent as hybrid ownership jumps from less than 1 per cent of vehicles to represent a third.
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