The UK's wholesale, retail, and repair of motor vehicles and motorcycles sector is projected to grow steadily from 2024 to 2028. The sector's output value is forecasted to increase from £400.4 billion in 2024 to £429.19 billion in 2028. This represents a consistent upward trend with year-on-year growth of roughly 1.8% to 1.9%. If the sector's 2023 output was slightly below £400 billion, the forecast indicates a stable recovery post-2023.
Future trends to watch for include the impact of technological advancements such as electric vehicles and online retailing in shaping the sector's growth dynamics. Additionally, regulatory changes and macroeconomic factors may alter growth trajectories.
