The number of self-employed persons in the motor vehicles and motorcycles wholesale, retail trade, and repair sector in Japan is forecasted to decline steadily from 2024 through 2028. Starting from 652,000 in 2024, this figure is expected to decrease to 476,000 by 2028, reflecting decreasing self-employment in this sector. From 2023's figure of 699,000, the year-on-year decline is approximately 6.7% in 2024. Over the five-year period, the sector experiences a compound annual growth rate (CAGR) of about -7.3%, indicating significant contraction.
Future trends to watch for include:
- Potential impacts of increasing automation and digitalization in the automotive industry.
- Effects of changing consumer preferences towards electric vehicles.
- Broader economic factors influencing self-employment dynamics in Japan.