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Tbf without seeing a rough methodology it's hard to know how accurate it is.
For eg does it factor the recycling of the old cars?
Anyway realistically in a country with one of the highest rates of new car consumption (every 2.5yrs iirc) is comparing keeping old cars with buying a new electric / hybrid a remotely fair comparison?
Where do you think most of the world's electricity comes from?
But as we move towards more renewables it will hopefully be less of an issue. I just found out that NYC and NJ have both upped their offshore wind targets, which is really positive.
Read this too in a few respected places and it makes sense I think.