New speed pedelecs are losing ground while used ones flourish

In July 2024, the trend of recent months continued: new speed pedelecs are losing ground (-17.8%, 1,119 units), and second-hand high-speed e-bikes continue to grow (+18.1%, 788 units). According to Filip Rylant, spokesman for mobility federation Traxio, the importance of the second-hand market is increasing very quickly.

Two years ago, the number of registrations of used speed pedelecs was less than one-third (32.7%) of the number of new bikes. However, over the first seven months of the year, that share has grown to 58% and even to 70.4% in July.

Strong second-hand market

The figures per province show a general decline for new speed pedelecs, while the second-hand market is growing strongly almost everywhere. It confirms the clear growth trend for second-hand speed pedelecs in Belgium.

Some trends explain the evolution: many leasing contracts ended, which means that many speed pedelecs became available for the second-hand market. Thanks to the larger selection, consumers with a more limited budget can now buy high-quality, high-performance bicycles at an attractive price.

Significant shift in market share

Although significantly more new speed pedelecs are still being purchased, the 2023 and 2024 figures show a significant shift in market share between new and used. In 2023, second-hand speed pedelecs still accounted for 27.5% of the market, while new speed pedelecs accounted for 72.5%. In 2024, second-hand will increase to 36.7% compared to 63.3% for new.

The market for used speed pedelecs continues to grow exponentially (+18.1%). Over the first seven months of 2024, the number of registrations of second-hand speed pedelecs increased by +22.9% compared to the same period in 2023 and by +75.7% compared to 2022.

On the second-hand market, private individuals dominate with a market share of 93.8%, followed by leasing with 4.8%, and companies with only 1.3%.

Significant decline

The market for new speed pedelecs shows a significant decline for the first seven months of 2024 compared to the previous year: the total number of registrations fell by 16.2%, from 9,776 in 2023 to 8,192 in 2024.

In the first six months, almost two in three new speed pedelecs (65%) were registered by non-private individuals, particularly through leasing. About half (50.6%) of the registrations come from leasing, 35% from private individuals, and 14.4% from business customers.

All Flemish and Walloon provinces record a decrease in new speed pedelecs compared to 2023. Both new and second-hand speed pedelecs remain a predominantly Flemish phenomenon. Flanders accounts for 94.7% (new, 7,754 units) and 90.7% (used, 4,752 units) of the market, respectively.