Traxio: second-hand car sales on the rise in March
Car sector federation Traxio has noted a serious increase in second-hand cars’ sales and speed pedelecs in March. To be more realistic about the progress, it compares with the pandemic year 2020 and the record year 2019.
“We can’t let ourselves be impressed too much by comparisons with March 2020, when dealers were partly closed, says Philip Rylant, Traxio spokesman. “So, we compare it with March 2019. But even then the registrations of new cars are looking bad (-17,3%), and second-hand cars are dong well (+14,9%).”
Not only cars are doing well on the second-hand market: practically all categories (trucks, light commercial vehicles, motorcycles) are thriving well. New LCVs and new motorcycles are doing well (+5,3% and +3,6% respectively), but new trucks are regressing seriously (-5,3% to -41,8% depending on the weight and type).
Market under pressure
The regressing sales trend of new cars and the booming sales of second-hand vehicles put pressure on the market. If demand for second-hand cars stays high, there could be a problem with the supply. This can affect availability and pricing.
The tendency to sell more gasoline cars instead of diesel cars has also conquered the second-hand market. More than half (50,2%) of cars sold were gasoline cars, 45,7% were driving on diesel. The alternative fuels are not yet very popular here, but hybrid cars nevertheless almost doubled (from 1,6 to 3,1% market share).
Volkswagen, BMW, Mercedes, Opel, and Ford are the five most important brands when looking at the second-hand trade for cars. The average age of a second-hand car in Belgium stays around seven years.
Compared to 2019, the sales of new motorbikes are doing better: +3,6% compared to March 2019, and +8,9% for the first quarter compared to last year. Noticeable is the booming popularity of small motorbikes (up to 125 cc).
Second-hand motorbikes are doing even better: +56,7% compared to March 2019. Here also, there can be a chance of the market overheating when this tendency persists. The increase in sales is much more present in Wallonia than in the other regions.
Speed-pedelecs are also faring well. +57,5% in comparison with last year, +28,8% compared with March 2019. Except for the province of Namur (where pedelecs really aren’t popular), the highest gains are recorded in Wallonia, but absolute figures are still shallow compared to Flanders and Brussels.
“The speed-pedelec is here to stay,” says Rylant. “Leasing and company bikes are also growing (+16,3% and +10%, respectively), but it’s the individual buyer who leads the dance (+33,6%).”
Individually owned pedelecs represented half of the market (51,8%) in the first quarter of this year, leased ones one-third (33,9%), and company bikes represent 14,3%.