Individual vehicle ownership, especially of internal combustion engine vehicles, will enter a vicious cycle of increasing costs, decreasing convenience and diminishing quality of service. Photo: MintNew Delhi: Purchase of vehicles run on fossil fuel will stop completely by 2030, according to a study by Tony Seba, an economist with Stanford University. * The size of the US vehicle fleet will drop from 247 million in 2020 to 44 million in 2030. * Internal combustion engine vehicles will be eliminated from fleet by end of 2030s at the latest. This means that the remaining ICE vehicles will be eliminated from the fleet before 2040,” Seba said.

Source: Mint May 15, 2017 09:33 UTC