The International Car of the Year (ICOTY) is an annual award that recognizes outstanding new vehicles based on various criteria, including design, performance, and innovation. A panel of automotive journalists and industry experts evaluates the nominees, considering factors such as safety, technology, and environmental impact. The award aims to highlight vehicles that set new standards in the automotive industry and resonate with consumers. It serves as a guide for potential buyers and encourages manufacturers to push the boundaries of automotive excellence, ultimately benefiting the entire market.