Industry challenges revealed

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【Summary】The annual IMI Baseline Report shows that the automotive industry is facing challenges, with a decrease in the number of businesses and job roles, but a rise in vacancies to a 21-year high. The sector has 758,000 jobs, with 78% in retail and 22% in automotive. The number of businesses has fallen to 98,500, mostly in automotive retail. Only 19% of the sector is female and 39% are under 35.

FutureCar Staff Aug 15, 2023 4:51 PM PT

The annual Institute of the Motor Industry (IMI) Baseline Report has revealed some interesting trends in the automotive industry. While the number of businesses and job roles has fallen, vacancies have reached a 21-year high.

According to the report, there are currently 758,000 jobs in the automotive sector, showing a slight increase from the previous year's figure of 742,600. Out of these jobs, 78% are in retail, while the remaining 22% are in other automotive-related fields.

On the other hand, the number of businesses in the industry has decreased from 100,000 in 2022 to 98,500. The majority of these businesses, 97% to be exact, are in automotive retail. The decline in job roles can be attributed to the increasing use of technology in the industry, which has led to more efficient processes.

Another notable finding from the report is the lack of diversity within the sector. Only 19% of the workforce are female, while 39% are under the age of 35. This highlights the need for more efforts to attract a more diverse range of talent to the industry.

Steve Nash, CEO of the IMI, expressed concern about the high number of vacancies and the declining number of businesses in the industry. He emphasized the importance of upskilling the existing workforce to meet the evolving demands of automotive technology. Nash also stressed the need for increased support and training to bridge the skills gap and attract the best future employees.

In addition, Nash highlighted the importance of diversity in the sector. He stated that a more diverse workforce would make the industry stronger, more successful, and better equipped to serve customers. Nash called for collaborative efforts to increase diversity and address the decline in the proportion of women in the industry.

In conclusion, the IMI Baseline Report has shed light on the current state of the automotive industry. While there has been a decrease in the number of businesses and job roles, there is a growing number of vacancies. It is crucial for the industry to focus on upskilling, supporting, and diversifying the workforce to ensure its continued success.