Industry challenges revealed

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【Summary】The IMI annual report shows that while the number of businesses and job roles in the automotive industry has decreased, there is a record high number of vacancies. The report also highlights the lack of diversity in the sector, with only 19% of workers being female and 39% under the age of 35. The CEO of IMI emphasizes the need to address the skills gap and increase diversity in order to ensure the industry's success.

FutureCar Staff Aug 14, 2023 9:33 AM 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 decreased, there has been a significant rise in vacancies, reaching 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 roles.

In contrast, the number of businesses in the industry has fallen from 100,000 to 98,500. The report highlights that 97% of these businesses are in automotive retail. Additionally, there has been a decrease in the number of job roles from 218 to 213, largely due to the implementation of new technologies.

One concerning finding from the report is the lack of diversity within the sector. Only 19% of the workforce in the automotive industry are female, and 39% are aged under 35. This indicates a need for more efforts to attract a more diverse range of talent.

Steve Nash, the CEO of the IMI, expressed his concerns about the current situation. He emphasized the importance of upskilling to address the skills gap and ensure that businesses can adapt to the evolving automotive technology. Nash also stressed the need for increased support and training to equip the existing and future workforce adequately.

Furthermore, Nash highlighted the importance of diversity in the sector. He emphasized that a more diverse workforce would make the industry stronger, more successful, and better able to serve all motorists in the UK. Nash called for collaborative efforts to increase diversity and attract the best talent across all roles in the automotive industry.

The IMI Baseline Report provides valuable insights into the current state of the automotive industry. It highlights the need for upskilling, increased support, and training, as well as a focus on diversity to address the challenges and ensure the industry's future success.