In 2023, the total hours worked in the UK's motor vehicles and motorcycles wholesale and retail trade and repair sector was set at 7.65 billion hours. Projected data shows a steady growth pattern, with a slight year-on-year increase—approximately 0.26% yearly from 2024 to 2028. The compound annual growth rate (CAGR) over this five-year period stands at around 0.25%. This gradual increase signifies resilience in the sector amid market challenges.
Future trends to watch for include:
- The impact of technological advancements in automotives on employment and work hours.
- Shifts in consumer behavior towards electric vehicles and its effect on service demands.
- Potential economic fluctuations influencing labor requirements in the automotive trade sector.