One year ago, the first issue of our monthly Fuel for Thought newsletter made it into the in-boxes of fuels and vehicles professionals across the globe. It was and will always be the goal of the Institute to provide industry stakeholders with unbiased and factual research, while being a place where cross-industry discussions are held. With that goal in mind, we have done our absolute best to bring thought-provoking research and the latest news directly to each of you once a month in an easy to read format. Mission accomplished! (Obligatory pat on the backs are now taking place)
As is the case for the industry, our work is never done. Just one year ago, the idea that a consumer wouldn't have range anxiety with their EV was unheard of. Today, the Chevy Bolt and Tesla Model 3 both promise over 200 miles per charge and will be on the roads in 2017. Just one year ago, there were numerous reports of the personal vehicle being a thing of the past. Why purchase a vehicle when you can use an autonomous shared electric vehicle? Today, we look back on 2015 as the most successful sales year of light-duty vehicles of all-time. Speaking of EVs and new mobility services, weren't they supposed to take over the transportation industry? Today, EIA continues to project that non-liquid transportation energy will comprise of <5% of the market in 2040 for light-duty vehicles.
Alternative fueling options are still building momentum and do pose a threat to the liquid fueling industry. Vehicle technology mandates are forcing auto manufacturers to make significant decisions that could affect fleet sales. The consumer we thought would bring the most change isn't the Millennial after all, it's Gen Z. What does it all mean?
Well, as stated above our work isn't quite done yet. This is the most exciting time to be in the transportation industry since the invent of the automobile. However, there continues to be a strong need for consumer education on all of these new technologies. It is critical if automakers have any hope of selling more alternative fueled vehicles, and if retailers plan on continuing to be the source for consumers to refuel. We're happy to continue bringing fact-based research, education and awareness to the public that is unbiased and credible. We will be releasing over a half dozen reports in the coming months. The topics will range from an updated look at fuel prices vs. vehicle sales in 2016 to a detailed report on the petroleum distribution system. We'll be sure to highlight each report in the newsletter so you won't miss a thing.
It goes without saying that we wouldn’t be able to do all of the exciting things we’re working on if it weren’t for the continued support of our contributors. Their financial support and guidance has helped us industry leading research and events for all of you.
Finally, a sincere thanks from the Institute to each of you. We hope you continue to enjoy Fuel for Thought and hopefully we'll see you in May at our Annual Meeting. Until next month, Road Scholar out!
Read more from the October Issue of our Fuel for Thought newsletter.