In 2023, the number of employees in the Wholesale, Retail, and Repair of Motor Vehicles and Motorcycles sector stood at approximately 20 million. The forecast suggests a modest increase over the next five years, reaching 20.16 million by 2028. The year-on-year growth rate remains consistent at about 0.1%, reflecting subdued expansion in employment within the sector. Over the five-year period, the compound annual growth rate (CAGR) translates into minimal growth, indicating stability rather than significant acceleration.
Future trends to watch for include technological advancements in vehicle automation and electric vehicles, which may require reskilling employees. Additionally, shifts in consumer behavior towards online car buying and repair services may influence employment dynamics within the sector.
