The analysis of the number of employees in the sale of motor vehicles sector in Belgium shows a mixed trend over the years. From 2013 to 2016, there is a slight downward trend, with occasional minor increases. Notably, a significant boost occurred from 2017 to 2019 with annual growth percentages of 2.48%, 5.03%, and 4.14%, respectively. However, the year 2020 saw a decline of 3.65%, possibly impacted by global events such as the COVID-19 pandemic. From 2021 onwards, the growth stabilizes at an incremental rate, with the values in 2023 standing at 37.04 thousand employees. The five-year CAGR from 2018 to 2023 stands at 0.10%.
Future trends to watch for include the gradual yet steady growth forecasted from 2024 to 2028 with an annual growth rate leading to a 5-year forecasted CAGR of 0.04% and a cumulative growth rate of 0.18%. Key factors to monitor will be technological advancements, shifts towards electric vehicles, and changes in consumer behavior post-pandemic, which may influence the number of employees in this sector.
