Half of Petrol Stations Expected To Close in Next Decade

Half of the Netherlands' petrol stations are set to close in the next five to 10 years as electric cars start to take over the market, according to ING Research. From a report: The bank's economists say there will be insufficient earnings in future, with only some 2,000 of today's 4,131 gas stations remaining. "It is mainly the small, unmanned petrol stations that will disappear," says ING Research, as reported in De Telegraaf. [...] Owners are trying to maintain turnover by increasing their sales of food and beverages, maintenance services and even car washing, ING says. But the long-term business model of independent stations will be difficult to maintain. "A quick calculation shows how long petrol station owners can still sell petrol," Dirk Mulder, Trade & Retail sector banker at ING Research, said. "A new car remains in the Dutch fleet for an average of 19 years. The last petrol and diesel cars will come onto the market in 2034 and will stay on the road until approximately 2053."

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