Source: Bike Europe

In the first nine months of 2024, registrations of second-hand speed pedelecs in Belgium rose by 17.4% compared to the same period in 2023 and by 39.3% compared to 2022, according to Traxio, a trade association. However, new speed pedelec sales showed an opposite trend, dropping by 17.9% from 2023.

“Over the first nine months of this year, we see one major constant: registrations of new speed pedelecs (10,189 units, -17.9%) are declining in favour of second-hand models (6,277 units, +17.4%),” confirms Filip Rylant, spokesperson for the mobility federation TRAXIO. “This year’s bad weather has certainly had a negative impact on the new market, but we also see in the figures a positive indication that the speed pedelec is a sustainable mode of transport that is becoming increasingly accessible as a used option for a large group of users. It is important that the new market begins to recover in the coming year to ensure a structurally sufficient inflow for used models in the future.”

Overall, with 16,466 registered speed pedelecs, the combined market shows only a slight dip: down by 7.8% compared to 2023 and 9.2% compared to 2022, as the second-hand sector is still in its growth phase.

Shift to second-hand

While new speed pedelecs remain the majority, there’s a notable shift toward used models. In 2023, second-hand speed pedelecs represented 29.1% of the market, rising to 38.1% in 2024, with new models dropping to 61.9%.

“2024 is clearly a difficult year for the entire bike market, partly due to the bad weather. Despite the growing confidence in bikes as a sustainable mode of transport, sales are stagnating. The new sales of speed pedelecs are following that downward trend. On the other hand, the second-hand speed pedelec remains a strong quality product. Consumers, in times of declining purchasing power, are right to have confidence in it” explains Frank Glorieux, secretary general of Traxio Velo.

Private vs. companies and leasing

The new speed pedelec market saw a sharp decline in registrations, down 17.9% overall, with leasing registrations down 18.0%, private registrations down 21.1%, and corporate registrations down 8.5%. During this period, 63.7% of new speed pedelecs were registered by non-individuals, largely for leasing (49.2%), while 36.3% were registered by individuals and 14.4% by businesses. In contrast, individuals dominate the second-hand market with 93.0%, followed by companies (5.6%) and leasing (1.4%).