3 surprising predictions about the auto industry in 2040

Global vehicle sales will decline over the next two decades as consumers embrace on-demand ride services like Uber, but demand for oil will keep rising, according to a study released Tuesday by IHS Markit. It also said more than 80 percent of the vehicles sold worldwide in 2040 will still use petroleum-fueled combustion engines.

Global vehicle sales will decline over the next two decades as consumers embrace on-demand ride services like Uber, but demand for oil will keep rising, according to a study released Tuesday.Another counterintuitive finding from the study by IHS Markit was that more than 80 percent of the vehicles sold worldwide in 2040 will still use some form of petroleum-fueled combustion engine.Annual vehicle sales in the United States, Europe, China and India will decline over the next 23 years to 54 mil...