The sales of different type of vehicles has been skyrocketing across nations year-on-year. According to the statistics stated by the National Automobile Dealers Association (NADA), in the year 2022, 13.7 million units of new light-vehicles were sold in the United States. Further, sales of light-trucks grew by 1.6% from 2021, while alternative fuel vehicles, such as battery electric vehicles (BEVs), hybrid electric vehicles (HEVs), and plug-in hybrid vehicles (PHEVs) witnessed an increase of sales by 2.7% compared to 2021. In 2023, the sales of new vehicles are expected to increase by 6.6% from 2022 and touch 14.6 million units in the nation. These sales figures represent the growth of the industry over the past year and what it looks like in the year 2023. The automotive industry, on and all, includes businesses which are involved in the manufacturing, distributing, retailing, and upkeeping of automobiles. Autonomous, connected, and electrified (ACE) vehicles and smart cities are becoming more prevalent in the automotive sector. This includes autonomous automobiles, vehicles that communicate with one another or the outside world via the internet and other technologies, and, most crucially, electric vehicles. An important economic metric, the automobile sector, is on the cusp of new technological advancements. Additionally, in the present day, the automotive industry is being driven by consumer desire for expensive and distinctive features. Consumers of today utilize all-purpose automobiles all around the world, whether they are driving their families to the beach or commuting alone to work. The main categories in the industry include EV, HEV, PHEV, MHEV, NGV, FCEV, Diesel, and Petrol.
According to NVIDIA Corporation, one of the biggest AI and graphics companies in the world, a lot of automobile businesses will begin integrating their operations with the metaverse in 2023. Companies will be able to track every step of their vehicles' manufacture and suggest changes owing to the installation of metaverse tools. Furthermore, it will also enable designers to work virtually with a true-to-life picture of the items intended for production. The top five trends that are expected to bolster the automotive industry in the year 2023 are: