Annual report uncovers industry obstacles

Home > Industry Analysis > Content

【Summary】The IMI annual report reveals challenges in the automotive industry, with a decrease in businesses and job roles, but a rise in vacancies to a 21-year high. The report highlights that there are 758,000 jobs in the sector, with 78% in retail and 22% in automotive. The number of businesses has fallen to 98,500, while job roles have decreased due to increased technology. Only 19% of the sector are female, and 39% are under 35.

FutureCar Staff Aug 15, 2023 7:13 AM PT

Annual report uncovers industry obstacles

The annual Institute of the Motor Industry (IMI) Baseline Report has highlighted some key findings about the automotive industry. According to the report, there has been a decrease in the number of businesses and job roles, but an increase in vacancies.

The report reveals that there are currently 758,000 jobs in the automotive sector, which is slightly higher than the 742,600 recorded in 2022. Out of these jobs, 78% are within the retail sector, while the remaining 22% are in other areas of the automotive industry.

On the other hand, the number of businesses in the industry has fallen from 100,000 in 2022 to 98,500. It is worth noting that 97% of these businesses are in automotive retail. Additionally, the report shows that the number of job roles has decreased from 218 to 213, primarily due to advancements in technology.

One concerning aspect highlighted in the report is the lack of diversity within the sector. Only 19% of the workforce in the automotive industry are female, and 39% are under the age of 35.

Steve Nash, CEO of the IMI, expressed his concerns about the high number of vacancies and the skills gap in the industry. He emphasized the need for upskilling and training to ensure that the remaining businesses can meet the evolving demands of automotive technology. Nash also stressed the importance of increasing diversity in the sector to attract the best talent and create a stronger and more resilient industry.

In conclusion, the IMI Baseline Report sheds light on the current state of the automotive industry. While there has been a decline 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 success.