The used car market experienced a moderate monthly rise in December, resulting in a yearly increase of 7.2%, with 51,220 new registrations and an annual total of 689,170 units reported, according to industry organisation Traxio.
Volkswagen topped last year’s list of most purchased used car brands, followed by BMW, Mercedes, Opel and Peugeot. The VW Golf (28,710) was the best-selling model, ahead of the VW Polo (20,520), Opel Corsa (19,131), BMW 3 series (16,309) and the Ford Fiesta (14,451).
Traxio’s analysis suggests the market for used vehicles continues to grow, bolstered by wider availability and largely stable, if not slightly decreasing, prices.
As new car deliveries increase, more recent used cars are entering the market, with the age of these vehicles gradually increasing in recent years, the organisation added.
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In 2023, the average age of the Belgian automobile fleet approached 10 years while the median age of newly registered used cars was also high at 7 years and 11 months.
Furthermore, diesel vehicles’ market share continues to fall to 35.6%, while petrol engines’ share leaps to 54%. The sector combining other fuels, encompassing hybrid and electric models, has now surpassed the symbolic 10% mark (10.4%).
