While registrations of new vehicles (51 760 units) almost doubled in June (+48,7%), the second-hand market started to regenerate by growing 15,8% in June to 67 528 units. Cumulated over the first six months, the increase is 5,8% (18 999 units more than in the first six months of 2022), but there is a backlog of 18 548 units compared to the first six months of 2021. The figures come from the mobility federation Traxio.

More recent cars are entering the second-hand market, and stocks are gradually replenished, but the range of affordable recent used cars remains limited. “Still, we expect the second-hand market to continue to perform at a good level in the coming months, as more and more customers reorient themselves toward a used car,” explains Filip Rylant, spokesperson for Traxio. There was also a rush for plug-in hybrids on the second-hand market by companies.

VW and BMW op top

Volkswagen and BMW remain the most-sold brands of second-hand passenger cars, ahead of Mercedes, Opel, and Peugeot. When it comes to the most popular models, the VW Golf (14 105) and VW Polo (10 343) are still in the lead, followed by the Opel Corsa (9 925), the BMW 3-Series (8 683), and the Ford Fiesta (7 266).

The share of diesel cars continues to fall in second-hand cars, while the share of gasoline engines is rising to 53,5%. The share of other fuels is slowly growing in the second-hand market (to 10,1%) mainly due to the increasing share of hybrid cars, which now represent 7,9%, while 1,5% of full electric models were registered on the second-hand market.

More electric cars

The situation is completely different for newly registered passenger cars, with electric vehicles – thanks to leasing and commercial vehicles – already representing more than half of sales. Although the share of hybrid and electric vehicles is still limited in the second-hand market, their numbers will grow month after month as their number increases in the overall market.

Most registrations of second-hand cars were made by private individuals, while the share of company cars in the second-hand market rose slightly to 11%. Also, starting companies more often opt for second-hand cars, and they’re more often interested in second-hand hybrid cars.

The individual buyer prefers second-hand car

The individual buyer often turns to the second-hand market because he doesn’t know what to buy new anymore and doesn’t feel happy by being pushed to – overpriced – electric vehicles.

Flanders is traditionally the largest region for the registration of second-hand passenger cars (55%, 2% more than last year), while Wallonia remains status quo at 37% and Brussels loses 2%.