The market of the new speed pedelecs experienced a further delay in November, with -20,9% to 1 018 units, which is 269 less than in November last year. The persistently negative figures reduce the cumulative annual total over the first nine months to -9,9% below the previous year’s figure.

Private individuals (-33,2%) and companies (-15,8%) dropped out this year. According to mobility federation Traxio, the market has not reached a saturation point, but there might be purchasing power problems among the private target group for speed pedelecs.

Used bikes

November was again a strong month on the second-hand market, with an increase of no less than +26,8% (487 units). This means 1 085 more used vehicles (+20,3%) were registered in the first eleven months than in 2022, and even +132,3% more than two years ago.

This year, 6 433 second-hand fast bicycles have already been registered. The success of second-hand speed pedelecs is due to the increasing number of lease speed pedelecs that become available and are bought or resold.

Lack of purchasing power?

The number of speed pedelecs registered by private individuals has fallen sharply this year (-33,2%). While private individuals accounted for almost half of sales last year, their share has fallen to only 35,7% in the first eleven months of 2023. The question for the bicycle sector is mainly how private individuals can be encouraged to buy a high-speed bicycle because this market segment is in free fall.

What is striking is the increase among leasing companies (+22,9%). They now account for more than half (50,1%) of the speed pedelec registrations. Bicycle leasing offers some obvious advantages for companies, such as less administration and no worries about maintenance, insurance, or residual value because everything is neatly arranged for them and the employee.

Regional differences

The province of Antwerp has been a forerunner for years but has fallen by -11% to 3 364 units over the first eleven months of 2023. Antwerp is beaten by East Flanders (3 715 units); Flemish Brabant falls back to third place (3 319), and Limburg sits in fourth place (2 564).

Registrations of speed pedelecs in Brussels and Wallonia remain a marginal phenomenon compared to Flanders. However, there are most likely limited speed pedelecs in Wallonia leased through a Flemish or Brussels leasing company.

Slight increase in Brussels and Wallonia

On the Walloon/Brussels side, we see a slight increase in Brussels (+2%) and in Walloon Brabant (+1%), which is remarkable because high-speed bicycles have fewer advantages in the highly urbanized environment with many difficult traffic situations. They also face stiff competition from the Brussels region’s extensive range of shared bicycles and scooters.

Since the first appearance of the speed pedelecs in 2015, the total park is estimated at approximately 70 000 units. Used/leased bicycles are replaced after several years and returned to the market second-hand. The second-hand speed pedelec market is, therefore, growing exponentially.