The market for electric cars in Belgium shows remarkable growth, with a continuous increase in registrations that exceeds expectations. In 2023, it was already evident that Belgium was a European leader with a growth rate of 147.3% in October 2023 compared to the previous year. This trend continues unabated into 2024, where in the first half of the year, 24.1% of all newly registered vehicles were fully electric, amounting to 62,429 units, an increase in sales from 43,687 to 62,429 compared to the same period in 2023.
The popularity of electric vehicles (EVs) is driven by several factors:
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Fiscal advantages and premiums: Until the end of 2024, buyers of electric cars costing less than 40,000 euros can still benefit from a premium of 5,000 euros. Additionally, the fiscal treatment of company cars in Flanders has given a significant boost to the sale of EVs to businesses.
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Market penetration: The Tesla Model Y remains the market leader, both in the business sector (B2B) and among private individuals (B2C), followed by models like the Volvo XC40, Audi Q4 e-tron, and the BMW iX1 in the business market. Among private individuals, figures show a preference for Tesla's models, but also for more affordable options like the Dacia Spring.
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Second-hand market: The second-hand market for electric cars is also growing strongly, with an increase of 87.3% in the first six months of 2024. It is noted here that electric cars find almost as many buyers in the professional market as in the private market, partly thanks to the Flemish EV premium.
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Infrastructure and perception: Although there are concerns about higher maintenance costs or the charging infrastructure, market growth shows that positive perception and the expanding charging infrastructure partially alleviate these concerns.
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Future expectations: The expectation is that the growth of electric cars in Belgium will continue, especially in the business market due to fiscal advantages. However, there is some uncertainty regarding the private market after 2024, when the premium for electric cars will be abolished, which could lead to a slowdown in electrification among private individuals.
These developments show that Belgium, through incentive measures, plays a pioneering role in the transition to electric mobility in Europe, with a market that embraces both new and second-hand electric vehicles.
