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Not All Electric Vehicles Are Cars, You Know

Two- and three-wheeled EVs are responsible for more avoided oil consumption than any other category.

Electric bicycle and scooter riders wait at cycle lane traffic light in Berlin, Germany, on Thursday, July 18, 2019. 

Electric bicycle and scooter riders wait at cycle lane traffic light in Berlin, Germany, on Thursday, July 18, 2019. 

Photographer: Krisztian Bocsi/Bloomberg
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This year is shaping up to be an awful one for the global auto sector. In its latest Long-Term Electric Vehicle Outlook, BloombergNEF expects a 23% decline in sales of internal combustion engine vehicles—in a market that’s already three years off its peak. Electric vehicles won’t be immune to the pandemic, but they’re a relative bright spot with sales projected to sink 18% this year before rebounding.