The automotive industry is a wide range of companies and organizations involved in the design, development, manufacturing, marketing, and selling of motor vehicles. It is one of the world’s most important economic sectors by revenue.
The United States has one of the largest automotive markets in the world and is home to many global vehicle and auto parts manufacturers. After vehicle production dipped below 6 million units in 2009, production more than doubled to over 12 million passenger vehicles in the United States in 2015. The United States is the second largest vehicle producer in the world, behind only China in 2015. U.S. vehicle sales declined to 10.4 million units in 2009. However, vehicle sales have steadily risen each year since and reached 17.4 million units in 2015. Overall, the United States is the world’s second largest market for vehicle sales.
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