The motor vehicles and motorcycles sector in the UK is projected to grow steadily from 2024 to 2028. Starting at £60.51 billion in 2024, the sector's output is expected to increase annually by approximately 1.6%, reaching £64.29 billion by 2028. With no actual data for 2023 provided, the 2024 forecast indicates a continuation of positive trends seen in earlier years.
Key future trends to watch for:
- The impact of electric vehicle adoption on sector production and repair services.
- The influence of technological advancements such as AI and IoT in vehicle sales and maintenance.
- Potential regulatory shifts and sustainability efforts influencing production and supply chains.