Traxio: ‘Highest number of used car registrations since 2015’

Last year, used car registrations increased by 5.6% (to 727,650 units) – 38,480 more than last year, 84,981 more than in 2022, and the highest number since 2015. Expectations are that the second-hand car market will remain high in the coming years. The number of new cars fell in 2024, but the decline was only 6%.

According to Mobility Federation Traxio, several explanations exist for the popularity of second-hand vehicles: the easy availability of used cars, the falling prices (approximately -7.5% decrease in 1 year), and consumers’ doubts about the type of motorization. Companies usually opt for new cars, but the business community is interested in used electric vehicles.

Relatively old fleet

Although many new cars are registered in Belgium, the average age of the Belgian vehicle fleet continues to increase – it is now approximately ten years. We also expect a sharp decline in the used EV market now that the premium for second-hand electric cars has been abolished in Flanders.

In the meantime, the used car market is still dominated by gasoline engines (55.1%), diesel vehicles (30.6%), and hybrids (10.6%). On the second-hand market, 3.2% of fully electric models were registered.

VW Golf and Polo

Volkswagen was the best-selling used car brand in 2024, ahead of BMW, Mercedes, Opel & Peugeot. Among the most popular models, the VW Golf (29,393) topped the rankings, ahead of the VW Polo (20,821), the Opel Corsa (18,837), the BMW 3 Series (16,137), and the BMW 1 Series (14,851).

The median age of used car registrations is now 7 years and 11 months. The entire fleet is aging considerably, and that is, of course, detrimental to greening and emission reduction.

Private individuals and start-ups

The second-hand market remains mainly private—90% of the registrations were made by private individuals, although start-up companies often opt for second-hand cars or second-hand hybrid cars.

Flanders is the largest region for registering second-hand passenger cars, with 55%, while Wallonia drops from 38% to 37%, and Brussels remains at 8%.