Annual report highlights industry obstacles

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【Summary】The IMI annual report shows that the automotive industry has experienced a decline in businesses and job roles, but vacancies have reached a 21-year high. There are currently 758,000 jobs in the sector, mostly in retail, and the number of businesses has fallen to 98,500. The report also highlights the lack of diversity in the industry, with only 19% of the workforce being female and 39% being under 35.

FutureCar Staff Aug 18, 2023 8:01 AM PT

Annual report highlights industry obstacles

The annual Institute of the Motor Industry (IMI) Baseline Report has highlighted some key findings about the automotive industry in the UK. One significant observation is that while the number of businesses and job roles in the sector has decreased, there has been a rise in the number of vacancies, reaching a 21-year high.

According to the report, there are currently 758,000 jobs in the automotive sector, compared to 742,600 in the previous year. Among these jobs, 78% are in retail, while the remaining 22% are in other automotive-related roles.

In contrast, the number of businesses in the industry has declined from 100,000 in 2022 to 98,500. An overwhelming majority of these businesses, 97%, are in automotive retail. The decrease in job roles can be attributed to the increased use of technology in the industry, which has led to some positions becoming redundant.

Another noteworthy finding from the report is the lack of diversity within the sector. Only 19% of the workforce are female, and just 39% are aged under 35. This lack of representation is a cause for concern and calls for urgent attention.

Steve Nash, CEO of the IMI, expressed his concerns about the growing skills gap and the need for upskilling within the industry. He emphasized the importance of filling the vacancies and ensuring that the remaining businesses can provide the necessary services as automotive technology advances. Nash also highlighted the need for increased support, training, and diversity to attract the best talent and make the sector more resilient and successful.

In conclusion, the IMI Baseline Report sheds light on the changing landscape of the automotive industry in the UK. While there has been a decrease in the number of businesses and job roles, the rise in vacancies presents both challenges and opportunities for the sector. Addressing the skills gap and promoting diversity are crucial for the industry's future growth and success.