According to the latest data released on March 6, 2024, the car registration rate in Belgium experienced a significant decline in February compared to the same month a year ago. The indicator dropped from 17.1% in January 2024 to 9.6% in February 2024, marking a decrease of almost half within a month.
This sharp decline in car registrations signals a notable shift in the country's consumer behavior and economic activity. The Year-over-Year comparison highlights the substantial impact of this decrease, indicating potential challenges within the automotive industry in Belgium. As the country navigates through changing trends and economic conditions, observers will be monitoring closely to assess the implications of this downturn on various sectors and the overall economy.
