The second-hand car market shrank by almost 10% in Belgium last year, according to figures from mobility federation Traxio, released on Wednesday.
The number of sales sank to a level not seen in 25 years: 642,669 second-hand cars were registered, 9.4% or 66,936 units fewer than in 2021.
Traxio suggests the decline is attributable to factors such as a lack of consumer confidence due to the rising cost of living, the energy crisis, and the war in Ukraine.
Sales figures for new cars also fell in 2022, but by a smaller margin, according to data provided on Tuesday by the Belgian Federation of Car and Two-Wheeler Industries, Febiac. The decline was 4.4% compared to 2021.
The new car market is also said to have recovered by the end of the year, as the last five months were positive.
On the second-hand market, the best-selling brands were mainly German, with Volkswagen leading the way, ahead of BMW, Opel, Mercedes and Peugeot.
