Forecast: Motor Vehicles Turnover in Belgium

Motor Vehicles Turnover in Belgium has demonstrated significant variability over the past decade, with values peaking at €12.63 billion in 2013 and experiencing a steady decline to €9.71 billion in 2023. The market saw notable declines from 2014 (-3.14%) through 2018 (-5.45%), followed by a brief resurgence in 2019 (+17.81%). However, recent years indicate a downward trend, with a slight annual decrease of approximately 1.5% between 2022 and 2023. The compound annual growth rate (CAGR) for the five years leading up to 2023 was modest at 0.7%, which further declines to -1.22% when forecasting to 2028.

Future trends to watch for include:

• Impact of electric vehicle adoption and regulations on market turnover.
• Shifts in consumer preferences and economic factors influencing vehicle sales.
• Technological advancements in the automotive industry.
• Potential market recovery influenced by global supply chain dynamics.