In 2023, the number of employees in the UK wholesale and retail trade and repair of motor vehicles and motorcycles sector was approximately 548,000. From 2024 to 2028, the forecasted employee count shows a consistent growth trend, increasing from 549.19k to 554.29k. Year-on-year growth rates remain modest but steady, ranging around 0.24% to 0.27%, reflecting a stable sector with slight increases annually. The five-year compound annual growth rate (CAGR) is expected to be around 0.23%, indicating moderate growth.
Future trends to watch for include technological advancements in vehicle repair, shifts in consumer preferences towards electric vehicles, and potential economic impacts on consumer buying power affecting retail dynamics. Monitoring these factors will be crucial for anticipating workforce adjustments needed in the sector.
