The Belgian market increases by 30.1% in 2023 compared to 2022
- The Belgian automobile market (passenger cars) progressed significantly in 2023, with an increase in sales of 30.1% compared to 2022 after three years of a real collapse of the market. This hit bottom in 2022, with a volume of 366,303 units compared to 383,123 in 2021, 431,491 in 2020 and 550,003 in 2019. In 2023, it reached 476,675 units.
- The explanation for this sharp surge in 2023 could be due to the delivery of vehicles ordered in the previous two years and which could not be delivered due to parts supply shortages.
- Despite this good performance achieved in 2023, the Belgian market remains below the mark of 500,000 units per year, which seems the usual level of this market, as the average volume over the last twenty years stands at 500,000 units per year. In addition, the recovery from sales missed during the previous three years is only partial as these missed sales are estimated at more than 300,000 units according to Inovev.
- By carmaker, the Volkswagen group remains the Belgian market leader in 2023, with 24% of market share, ahead of the Stellantis group which benefits from its 14 brands (15% market share), Renault (10% market share ) and the two Premium carmakers BMW and Mercedes (12% and 7% market share respectively). It is interesting to note that in Belgium, BMW and Mercedes are more appreciated than Toyota and Hyundai-Kia, contrasting with France, Spain or Italy. This is why the Belgian market can be considered as a northern market (like Germany or Great Britain) and not as a southern market.