this chart from bloomberg is quite interesting for a few reasons…
first, global vehicle sales are still down when compared to 2019 sales.
second, there has been no rebound at all in gas-powered vehicle sales. every single year since 2017 has been lower than the last.
finally, it’s looking like plug-in hybrids are not the path forward, and seems likely that they’ll be remembered as a transition tool to prepare people for EV ownership. kind of like how blackberry phones represented the transition to smartphones with both a big screen and a keyboard.