In 2023, Germany represented the largest share of wages and salaries in the European motor vehicles, trailers, and semi-trailers sector, followed by France and the United Kingdom. While Germany and France experienced slight declines in wage shares, the UK saw a modest increase. Notably, Poland, Hungary, and Bulgaria exhibited strong growth in wage shares over the past year. On the other hand, countries like Spain, Italy, and Belgium faced declines. The forecast for 2024 suggests equitable growth in Eastern European countries, with strong percentage increases expected in Bulgaria and Serbia.
Future trends to watch involve shifts towards Eastern Europe driven by competitive labor cost structures and improving production capacity with growing investment in infrastructure. There's also a potential increase in wage shares in more technologically advanced markets as electric vehicle production ramps up, inviting higher-skilled labor and potentially driving up salary levels further in developed regions.
Top countries in Motor Vehicles, Trailers and Semi-Trailers Wages and Salaries Share by Country (Million Euros)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Germany | 53.7 | 2023 | +1.72% | -0.23% | View data |
| 2 | 2 France | 8.58 | 2023 | -0.056% | -1.58% | View data |
| 3 | 3 United Kingdom | 6.39 | 2023 | +0.64% | +0.69% | View data |
| 4 | 4 Spain | 4.66 | 2023 | -3.68% | -2.8% | View data |
| 5 | 5 Italy | 4.6 | 2023 | +0.45% | -1.95% | View data |
| 6 | 6 Sweden | 3.52 | 2023 | +1.63% | +0.94% | View data |
| 7 | 7 Poland | 3.33 | 2023 | +4.16% | +4.42% | View data |
| 8 | 8 Czech Republic | 3.04 | 2023 | +3.14% | +1.93% | View data |
| 9 | 9 Romania | 2.34 | 2023 | +5.21% | +1.8% | View data |
| 10 | 10 Austria | 1.91 | 2023 | +2.51% | +1.75% | View data |
