Belgian market forecast in 2015 (PC + LCV)
- The Belgian car market (PC + LUV) is characterised by 15 years of great stability, seeing as it has been gravitating around 500 000 to 600 000 units since the early 2000s. The three main factors that explain the variations in the Belgium market are : the 2008 financial crisis (- 100,000 units in 2009 / 2008), the introduction of government subsidies in 2010 and 2011 (+100 000 units in 2011/2009) and the aftermath of the end of these government subsidies in 2012 (-100,000 units in 2012/2011) .
- Since 2012, the market hasn't changed much and Inovev does not foresee any significant improvement before 2015. The Belgian market should settle at 550 000 sales in 2015, which has in fact been the average level of the market for fifteen years.
- In 2015, with stable economic indicators (including a GDP of +1.5%), the market will be driven primarily by replacement vehicles (whose average age is increasing) and by company fleets. In a stable market and in the current economical context, the introduction of new government subsidies is not on the agenda.
- Belgium is one of the European countries that imports the highest number of vehicles: In 2014, 89% of vehicles sold in Belgium were imported from abroad, partly because the country only produces 7 different models locally out of 350 models available on the market.
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