In 2023, the number of employees in the UK's Wholesale, Retail, and Repair of Motor Vehicles and Motorcycles sector stood at approximately 4.22 million. The forecast indicates a slight, consistent decline from 2024 to 2028, with workforce numbers expected to decrease from 4.21 million to 4.14 million. Year-on-year analysis reveals a steady decrease of around 0.5% annually over the forecast period. The compound annual growth rate (CAGR) for the five years is projected to be negative, reflecting a modest contraction.
Future trends to watch include potential advancements in electric vehicle technologies, shifts in consumer preferences toward online purchasing, and regulatory changes impacting workforce dynamics. These factors could significantly influence employment levels in the sector.
