Belgium Car Market took a hit in 2024, dropping 6% to 448,275 units. Yet, EV segment bucked the trend, surging 35.7%. Tesla, the top EV seller, made waves by breaking into the Top 10 brands with double-digit growth.
Market Trend and Outlook
Looking at cumulative data up to December 2024 brand-wise, BMW secured 1st position with 50,428 sales (-0.3%), followed by Volkswagen with 42,334 units sold (-6.5%).
In third place ranked Audi with 32,661 sales (-7.7%) ahead of Mercedes with 31,598 registrations (-10.4%), Dacia -up 4 spots- at 24,465 (+16.5%), Volvo -up 3 spots- with 24,221 (+13.6%) and Toyota -up 2 spots- with 23,615 registrations (+0.3%).
Renault dropped 2 spots into 8th with 23,559 (-4.6%) followed by Peugeot -down 4 spots- with 21,869 (-25.5%) and by Tesla -up 3 spots- in 10th place with 21,182 (+32.3%).
Looking at specific models, the BMW 4 Series became the new best seller, growing 130 spots and achieving a staggering 1947.4% increase in year-on-year sales. The Tesla Model Y followed in 2nd (+10.3%).
Medium-Term Market Trend
The car passenger’s market in Belgium is a mature market, with high share taken by premium brands, and in the decade before covid era has been stable, oscillating around half million annual sales.
The arrival of the pandemic caused the market to collapse 21.5% in 2020. This fall in sales, would mark the Belgian market for the following years.
In fact auto sales continued to fall in 2021, dropping another 11.2%. Despite slowing down, the fall continued in 2022 with sales reaching 366,087 (-4.4%).
The continuous increase in vehicle prices is a main driver in the slowing down of sales, making it harder for lower income families to buy cars. Another factor that puts downward pressure on demand is the Eu’s push towards EVs, an expensive alternative to traditional combustion engine cars. Despite these factors, in 2023 the market boomed 30.1% respectively to the previous year, YTD figures at 476,462.
Tables with sales figures
In the tables below we report sales for all Brands and top 10 Manufacturers Group.