According to a study by IHS Markit, global car sales will be on the decline over the next two decades as consumers are set to embrace on-demand car-hailing services.

While about 80 million vehicles per year are currently sold in the U.S., Europe, China and India, these numbers are anticipated to drop to 54 million over the next 23 years.

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Increased Ride Share Usage Will Lead To Reduced Annual Vehicle Sales

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