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Automotive Consumer Tracker

H1 2023

Our latest Automotive Consumer Tracker results reveal that affordability of electric vehicles is key challenge for Belgian consumers. While H1 2023 was positive for the Belgian car market as a whole, it is still down 14% compared to H1 2019.

Vehicle purchase intent hits twenty-year low: are you planning to acquire a vehicle in the next 6 months?

Powertrain preference per income level

The Vehicle Purchase Index (VPI) in H1 2023 was 25% lower than in H1 2022. While 100 consumers still expressed their intention to buy a new car 18 months ago, only 73 do so today. Inflation and financial concerns are driving Belgian consumers to delay large purchases.

The Deloitte report highlights socio-economic differences in consumer interest in battery electric vehicles (BEVs). The survey found that lower income groups are less inclined to buy hybrid or battery electric cars and 27% do not know which powertrain to buy next, with affordability of BEVs identified as a key barrier to purchase. Only three in 10 older consumers plan to buy an electric car next, compared to four in 10 younger consumers.

Only 10% of Belgian consumers plan to buy a BEV

In H1 2023, only 10% of respondents in Belgium planned to buy a battery electric vehicle (BEV), compared to 16% in the Netherlands, 13% in France and 15% in Germany.

Younger Belgian consumers show greater interest in BEVs than older consumers, but they often do not have the financial resources to buy one.

Curious to lean more? Read our H1 2023 Automotive Consumer Tracker for insights that can help car manufacturers and dealers to meet evolving consumer preferences and behaviours. 

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