Forecast: Employment in Sale of Motor Vehicles Sector in the UK

The employment in the sale of motor vehicles sector in the UK increased from 180.87K in 2013 to 217.63K in 2023, showing annual fluctuations. Employment peaked in 2018 at 216.15K, with dips in 2017 and a significant drop in 2020 due to the pandemic. However, the sector rebounded, reaching 217.63K in 2023. The CAGR from 2013 to 2023 was minimal at 0.14%.

Year-on-year variations were significant in certain years: 5.76% (2014), 8.25% (2015), -12.04% (2017), and -16.35% (2020). The recent years showed stable growth with 6.04% (2022) and 0.72% (2023).

Future projections from 2024 suggest modest growth, with an annual increase of around 0.59%, forecasting employment to reach 225.09K by 2028, indicating a 2.98% growth over five years.

Future trends to watch for:

• Impact of electric vehicle sales on employment

• Technological advancements and automation

• Changes in consumer behavior and economic conditions

• Regulatory changes and their impact on the market