Used car registrations in Belgium saw an 8.4% increase in January, reaching 61,908 units, according to data released by the mobility federation, Traxio.
Traxio characterised this growth as "striking", making particular reference to an already successful year in 2023. The second-hand car market appears to be improving consistently, with expectations for high levels to be maintained in the future years.
The federation mentioned that multiple key factors have contributed to the favourable performance of the second-hand car market. These include the more affordable prices of used cars, which have seen a slight decline in the early part of the year.
Petrol engines continue to represent 54% of the used car market, whereas diesel-based vehicles have experienced a decrease and now only account for 32.7%.
Furthermore, there’s been an almost doubled growth (+93.6%) in the number of second-hand electric cars registered by individuals, predominantly in Flanders. Traxio attributed this increase to the impact of the regional premium offered for electric vehicles.
When it comes to the most popular car makers, Volkswagen and BMW lead in second-hand car sales, followed by Mercedes, Opel, and Peugeot.
In terms of models, the top four were The Volkswagen Golf (2,540) claimed first place, followed by the Volkswagen Polo (1,858), Opel Corsa (1,742), and BMW Series 3 (1,388).
