The forecast for the number of employees in the US motor vehicles and motorcycles wholesale, retail trade, and repair sector is projected to show a steady increase from 2024 to 2028. In 2024, employment stands at 22.66 million, rising incrementally each year to reach 22.94 million by 2028. Compared to 2023, where employment figures were not disclosed, these forecasted values suggest a continuous expansion, likely influenced by economic recovery and increased consumer demand.
Year-on-year growth rates for the period ahead hover around 0.31% annually, reflecting stability. The 5-year compound annual growth rate (CAGR) extends this pattern of modest, consistent growth.
Future trends to watch for include technological advancements in vehicle technology, shifts toward electric vehicles, and changes in consumer purchasing behavior, which could impact workforce dynamics. Additionally, regulatory changes in the automotive sector may also play a crucial role in shaping employment figures in this industry.
