D’Ieteren’s second-hand car chain MyWay goes fully multi-brand

MyWay, the second-hand car sales chain of Belgian Volkswagen brand importer D’Ieteren Automotive, extends its offer beyond the ‘house brands’ Audi, Seat, Škoda, and Volkswagen and goes fully ‘multi-brand’. Some 3 000 ‘certified’ cars are available in 200 dealerships and on the MyWay website.

This year the group also launched ‘My Way Buy’, a service for private owners to have their old car valued and surveyed in one of the group’s technical centers and sell it to MyWay after inspection. To be eligible for resale, vehicles can’t be older than eight years, with a maximum of 150 000 km on the odometer.

Refurbished and guaranteed

All cars taken in are technically checked and ‘refurbished’ to be certified with warranties offered up to five years, MyWay assures. “With more than 3 000 vehicles immediately available, spread over almost 200 official sales points, MyWay is offering the widest premium range of second-hand vehicles in Belgium,” says Vincent Hallez, Marketing Project Manager.

D’Ieteren started MyWay some twenty years ago. Between 2020 and 2022, sales figures rose by 25%, with MyWay growing its share of the second-hand market in Belgium from 15 to 20%. Since this year, the offer has been extended to 20 different brands, including premium brands like BMW (32) or Mercedes (44), which are doing well in Belgium due to a considerable company car fleet.

Still limited, though, compared to the Audi offer (1101) or Volkswagen (1134), Skoda (479), and Seat (243). Other popular brands with private owners, like Toyota (10), Renault (12), Dacia (10), Peugeot (36), Opel (10), or Hyundai (9), are available to a lesser extent.

Market is suffering

Belgian automotive services sector federation Traxio warns that the second-hand car market is suffering. For nine consecutive months, sales figures declined: -8,8% compared to 2021 and even -21,9% compared to September 2020, when sales were booming immediately after the first corona lockdown.

In October, 53 192 second-hand cars were registered, 5 165 fewer than in October 2021, or a 10,8% decrease over the first ten months. On the other hand, the market for new passenger cars is reviving. In October, 30 451 new vehicles were registered, or an increase of 21,6%. The question is whether this rising trend will continue.

According to Ivo Willems of ‘second-hand car supermarket’ Cardoen, the trend perfectly reflects what he experiences in his showrooms. There’s a lack of young used cars, especially those with low mileage. However, he estimates the tide to turn within a few months.

According to Traxio, Volkswagen and BMW remain the most popular brands of second-hand cars, followed by Opel, Mercedes, and Peugeot. The most popular models are the VW Golf and Polo, followed by the Opel Corsa, Ford Fiesta, and BMW 3-Series.

 

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