Sharp rise in sale of second-hand cars in 2024, slump in new car sales

As Belgium’s automobile sector revs up for the Brussels Motor Show from 10 to 19 January, the industry reflects on car sale trends in 2024, reports RTBF. Among the winners were second-hand cars with 727,650 registrations, which represented an increas

By: xpats.com

Jan 06 2025
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Sharp rise in sale of second-h

As Belgium’s automobile sector revs up for the Brussels Motor Show from 10 to 19 January, the industry reflects on car sale trends in 2024, reports RTBF.

Among the winners were second-hand cars with 727,650 registrations, which represented an increase of 5.6% compared to 2023, according to Traxio Mobility Organisation.

In December, the number of used vehicles registered was 55,025, an increase of 7.4% compared to the previous year. “The limited choice of 'cheap' new models and consumers' uncertainty about the choice of engine also play in favour of the used car market," said the industry federation.

It also noted the current low success of second-hand electric vehicles. "There are not many cars available at the moment and there is still consumer distrust."

The federation believes the situation could change in the coming years as previously leased electric cars enter the second-hand market.

New car slump, rise in hybrid and electric vehicle sales

The new car market declined by 6% in 2024, with a total of 448,227 new passenger cars registered. Traxio also reported that the age of the Belgian vehicle fleet had risen and now averages 10 years.

Hybrid and electric vehicles together achieved a market share of 52.7% in 2024, compared to 48.4% the previous year. Electric is now the second most popular type of engine in Belgium at 28.5%, while petrol is 41.7%.

Registrations of new motorbikes increased by 11.7% over the past year to 28,330, a 15-year record. The increase is explained by the Euro 5+ standard for new motorcycles that came into force on 1 January.

"It accelerated the sale and registration of the remaining stock of Euro 5 motorcycles," according to Belgian Automobile and Cycle Federation Febiac.

BMW tops new car sales

As in 2023, the BMW brand experienced the greatest success in terms of new registrations, with 50,428 vehicles, or 11.25% market share. Volkswagen (42,334 registrations, 9.44% market share), Audi (32,661, 7.29% market share), Mercedes (31,598, 7.05% market share) and Dacia (24,465, 5.46% market share) completed the top five.

The proportion of registrations by private customers (38%) and professional customers (62%) was slightly rebalanced in 2024 (31% and 69% in 2023).

Trends for 2025

Ahead of the Brussels Motor Show at Brussels Expo, industry experts noted that despite the slight decrease in car sales, Belgians still like to own cars, reports RTL.

"We have to put things into perspective, because 2023 was an extraordinary year with an increase of 30%. In 2024, the market declined slightly, by 6%, but it was still a fairly good year," said Traxio spokesperson Filip Rylant.

Individuals bought more cars than companies, which reflected a rebalancing of the market. "We have a lot of company cars, but the number increased disproportionately, especially during the covid period," he explained.

While car sellers are expecting an influx of interested customers in January, they are concerned about the increased presence of used cars. "It's too much. We really need to have more recent cars in the fleet," said Rylant, who warned that Belgium’s climate targets would be impacted by the number of older vehicles on the country’s roads.

Photo: ©Brussels Motor Show 2023