Traxio: ‘EV registrations also rising in second-hand market’

Sector federation Traxio has just published the figures for the second-hand market in May. Last month, 5,9% more second-hand cars were registered, 60,284 in total, compared to 38,907 new ones. Noticeable: the registration of EVs boomed in both cases.

Filip Rylant, Traxio spokesman: “Also in May, we saw a rising trend for second-hand cars. This is due to the large number of recent second-hand cars on the market, giving customers more choice. That the average price of a second-hand car has stabilized is also a positive sign.”

EV market share is rising

The market share of EVs (new and second-hand) rose considerably in the first five months of 2024, from 17.6% to 25.9%. This growth is largely due to individual buyers who bought 96.5% more new electric cars compared to 2023.

As expected, the biggest growth of new car registrations was in Flanders (+132.5%) because of the € 5000 premium that was installed for people buying a new EV with a price tag under € 40,000. In Brussels, 60.4% more EVs were sold, and Wallonia is lagging behind with only a 9.8% increase.

When looking into the second-hand market for EVs, mostly dominated by individual buyers, we see that it grew even more, by 144.3%. Here also, Flanders is dominating the market, with a growth of 181.7% and a 76.0% market share. In Brussels, second-hand EV registrations rose by 118.2%, but the market share fell back to 4.1%. Finally, 64.9% more second-hand EVs were registered in Wallonia, resulting in a 19.9% market share.

Which brands?

As usual, Volkswagen and BMW dominated the second-hand market. Mercedes came in third, followed by Opel and Peugeot. The ranking is similar for the first five months.

The most popular models are the Volkswagen Golf, number one, followed by its smaller brother, the Polo, and the Opel Corsa, number three. Fourth and fifth place are for BMW, with the 3-Series and 1-Series, respectively.

By fuel type

55.1% of all second-hand cars registered in the first five months are still fueled by petrol; diesel is losing ground and clocks in at 31.8%. 13% of the registered second-hand cars are already electrified, with almost 10% being plug-in hybrids and some 3% fully electric.

Cars are getting younger again

In 2024, we’ve seen an increase in the offer of recent second-hand cars on the market, resulting in a total Belgian car park getting younger. 35% of the registered second-hand cars are less than 5 years old.

The second-hand market stays a market for individual buyers ‘par excellence,’ with an 88% market share, but small and young companies have started registering an increasing number of second-hand company cars, resulting in an 11% market share.

Flanders represents 55% of the second-hand car market, Wallonia has 37%, and Brussels keeps its 8% market share.