Forecast: Output of Motor Vehicles in the UK

Based on the forecasted data, the output of motor vehicles in the UK is expected to rise steadily from 2024 to 2028, with values going from £73.61 billion in 2024 to £80.25 billion in 2028. In 2023, the output stood at £72.0 billion. The year-on-year growth rates are predicted to be:

• 2024 vs 2023: 2.23%
• 2025 vs 2024: 2.33%
• 2026 vs 2025: 2.23%
• 2027 vs 2026: 2.13%
• 2028 vs 2027: 2.05%

Over the last two years (2024 and 2025), the growth rates indicate a consistent annual increment. Looking over the last five years, the Compound Annual Growth Rate (CAGR) averages at approximately 2.19%.

Future trends to watch for include advancements in electric vehicle technology, governmental policies on emissions and fuel types, and potential disruptions in the supply chain impacting production costs and output. Moreover, consumer trends towards sustainability and economic factors influencing purchasing power could shape the marketplace significantly.