The electric vehicle market saw a significant rise in registrations by private individuals in May, for both new and used vehicles, mobility federation TRAXIO stated on Wednesday.
This trend is particularly strong in Flanders, which holds a market share of 81.4% for new electric cars and 76% for used ones.
In the first five months of the year, the number of new electric car registrations increased from 3,752 units in 2023 to 7,349 in 2024 – a rise of 96.5%. The growth is even more pronounced for second-hand electric vehicles by private individuals: 4,107 units from January to May 2024 compared to 1,681 during the same period last year – an increase of 144.3%.
Overall, second-hand car registrations climbed by 4.3% in May, totaling 60,284 units. "We will continue to see a good market for second-hand cars in May 2024. This positive trend is due to the abundant supply of recent vehicles," commented TRAXIO spokesperson Filip Rylant.
In contrast, new car registrations fell by 5.9% (38,907 units), a decline attributed to the company car market. However, the trend remains positive in 2024 with an overall increase of 0.5% in the first five months.
