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The 7% growth rate typically refers to the annual increase in sales of passenger vehicles in a specific market or segment. This steady growth suggests that consumers remain keen on purchasing new vehicles, a trend fueled by various factors. One of the main contributors is the increasing demand for fuel-efficient and environmentally friendly vehicles. As concerns about climate change and air pollution mount, many consumers are leaning towards cars that offer better fuel economy or have alternative powertrains, such as electric or hybrid vehicles.


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Consumer preferences are shifting towards SUVs and crossover vehicles, reflecting a broader trend towards versatile and spacious family vehicles. The appeal of these larger models lies in their enhanced cargo space, higher driving position, and perceived safety. According to market reports, SUVs and crossovers now comprise a significant portion of passenger vehicle sales, catering to families, outdoor enthusiasts, and urban drivers alike. Automakers are responding to this trend with a plethora of SUV options, ranging from compact models to luxurious full-size variants.


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