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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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3. Technological Advancements The integration of advanced technologies in heavy trucks—such as electric powertrains, telematics, and autonomous driving capabilities—has significantly influenced prices. While these technologies can lead to higher upfront costs, they often result in long-term savings through improved fuel efficiency and reduced maintenance needs. Companies must weigh the initial investment against potential operational savings when deciding on truck purchases.


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