The North American automotive industry is one of the fastest growing industries across the globe. The region is home to some of the biggest names in the automotive industry such as Ford Motors Co., General Motor Co., and others has been at the forefront of technological advancements and innovations. In the recent past the industry was struck adversely by the economic meltdown of 2009 but the industry has recovered and is now back on its track to reach record heights over the period of next five years. The North American vehicle production is dominated by LCVs which have gained importance in the market owing to their load carrying and off-roading capabilities which make them viable for small scale business owners. This vehicle segment already the market leader in terms of volume is expected to further extend its dominance with an industry topping CAGR of 8.19%. The market has shown incline towards gasoline and is expected to remain dominated by gasoline powered vehicles only but diesel and other fuels are expected to make inroads into gasoline’s dominance over the course of next five years.
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