Belgian used diesels finding new homes abroad
Nearly 30% of used cars on sale in Belgium have been on the market for more than four months. The volume of 34,192 vehicles represents a market value of €805.2 million. Traders usually expect to sell used cars within maximum two months.
The figure was revealed by automotive data analysis provider Gocar DATA. “The situation applies particularly to used diesel cars. Belgium used to be diesel country, but Belgians are turning away from the motorisation, preferring petrol or LPG”, says Derek d’Ursel, founder of Gocar DATA.
Keeping a car in stock for four months easily costs €840. Traders increasingly look to other European markets to get rid of used cars that are difficult to sell in Belgium. Analysis by online vehicle auction specialists CarsOnTheWeb (COTW) shows that the ideal target markets are Central and Eastern Europe, Spain and Portugal: demand is high, and Belgian traders often get more for a used diesel in those markets than in Belgium.
To facilitate the outflow of used cars from Belgium to more attractive markets, Gocar DATA has struck up a partnership with COTW. At present, Spanish and Portuguese buyers can check the COTW platform for prices of ‘Belgian’ used cars on their markets. From 1 February, this will be extended to Dutch, French, Italian and Luxembourgish buyers. By the end of the year, 15 more markets will be connected.