The automotive sector is going through a difficult period in Belgium and Europe. Philippe Steveny, owner of the Steveny group, points to consumer uncertainty, due to recent political decisions and the volatility of the new and used car market
The automobile market in Belgium and Europe is currently in crisis. According to recent figures published by the Flemish press, vehicle sales have fallen by 48% compared to the previous year.
Philippe Steveny, owner of the Steveny group, invited this morning by Martin Buxant, speaks on this subject: “I think we have a lot of difficulties today, particularly because of the decisions taken by the previous coalition,” he declares, citing the role of former minister Philippe Henry in introducing measures discouraging the purchase of cars.
Electric car: an uncertain option
The transition to electric cars, often promoted as the solution of the future, does not reassure buyers.
Philippe Steveny explains: “Today, the residual value of electric cars is very low, which means that the resale price after use drops sharply. This also impacts leasing contracts, because money is expensive right now, making the situation even more difficult for consumers.”
Buyers thus find themselves in a dilemma. The ecological transition, although essential, complicates the choices of many motorists, hesitant to take the step towards an electric vehicle, especially since the latter remain expensive and not very competitive in terms of residual value.
Despite these uncertainties, the car remains anchored in the daily lives of Belgians. “The Belgian has a brick in his stomach and a car in his heart“, says Steveny.
However, he notes that this passion is hampered by the current indecision of the market: “We scared consumers and now they don’t know what to buy.“
This uncertainty is accompanied by a change in the habits of Belgians regarding the renewal of their vehicle. According to Philippe Steveny, “on average, a Belgian keeps their car for 9 years, 9 months and 11 days“. Nearly 10 years before changing vehicles, a figure which could further increase if current trends continue.
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