Final answer:
The first "Car of the Year" award in 1949 was given to the Cadillac by Motor Trend magazine, which has been influential in recognizing automotive excellence and innovation annually since then.
Step-by-step explanation:
The year 1949 marked a significant milestone in automotive history when the 1949 Cadillac was awarded the first "Car of the Year" by Motor Trend magazine, a publication that had a tremendous impact on the automotive industry when it was introduced in 1953. This accolade has since become an annual tradition, recognizing the most innovative and excellent automobiles in the industry.
The Cadillac's recognition set a precedent, influencing the way cars were valued and regarded by consumers and industry insiders alike. Prior to this era, automobiles underwent a transformative journey from the Benz Patent-Motorwagen, often acknowledged as the first automobile sold to consumers in 1885, to the mass-produced Model T by Henry Ford that turned cars into a more accessible commodity. The rise of the automobile industry led to greater mobility and economic growth, significantly changing the societal landscape. The fact that Motor Trend could establish an influential award such as "Car of the Year" illustrates the critical role that automobiles had come to play in American culture and the overall market by the mid-20th century.