Headlines increasingly share highlights from the advancing electric vehicle industry. The cost of batteries per kWh decreased by 79% between 2010 and 2017. And in recent news, Tesla founder Elon Musk claims Tesla will be able to reduce the cost of a battery to less than $100/kWh in the next two years.
Although there has been significant progress in alternative vehicles, current automobile sales don’t yet reflect this shift. A recent survey by the Fuels Institute shows that while 51% of potential buyers said they would consider an all-electric vehicle for their next purchase, only 0.5% of all light-duty vehicles sold in 2016 were fully electric, and only 0.6% in 2017.
In 2017, 93.5% of all light-duty vehicles sold in the United States were powered by gasoline. These cars have an average lifespan of nearly 12 years. While not as flashy as newer technology, the internal combustion engine will be on the road well into the future.
Check out the latest video from the Fuels Institute, taped onsite at a recent auto show, to learn more about the future of the traditional automobile engine. This short video is part of a Fuels Institute series that highlights the latest news in the auto industry.