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What are motorized vehicles?

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A motor vehicle (also road vehicle) is a vehicle whose propulsion is provided by a motor (or engine) such as an internal combustion engine, electric motor, some other method or some combination of the two, such as hybrid electric vehicles and plug-in hybrids.

The motorized vehicle industry indirectly generates employment for 40 million people. Investment just by auto manufacturers pumps $123 billion into the world's economy through investment in research and development and facilities. Also, in the 26 countries where figures are available, the industry contributes about $625 billion in tax revenues.

In the United States, vehicle and vehicle parts manufacturing are of even greater importance. They directly provide 1% of the GDP. In addition, the industry has one of the largest economic multipliers of any sector of the economy. It is so large, according to the Center for Automotive Research, that growth or contraction of the industry can be detected by changes in the GDP.