Automotive vehicles have been around for more than a century
now and there have been a lot of changes in that department. Since 1913, the
automotive industry has undergone several changes that have constantly been for
the improvements. We have come so far from using combustion engine of yesterday
to power steering of today.
Today, automotive industry is one of the largest grossing
industries in the world. It accounts for a total of 3.5% of the US’s GDP. In 2018,
the industry made over $250 billion that contributed to the US economy growth. In
10 years, the US automotive market is set to hit $6.7 trillion.
It is of no doubt that the US has the largest automotive market
in the world and it is also the world’s second highest manufacturer by volume. With
that rate of immense production, it is expected to reach 12 million by 2025.
Electric vehicles are the future now and it looks bright. Tesla
has contributed to a lot to the autonomous vehicles which can put an end to the
gas and diesel consumption in automobiles. Self-driving cars can save up to 250mh
to commute from one place to another.
Take a look at the following infographic for more details.
Infographic by: tactqinsights
