Speed pedelec leasing saw breakthrough in 2023

Almost half of the speed pedelecs in Belgium (49.9 per cent) were registered by leasing companies in 2023, mobility association Traxio reported on Thursday. With the increasing number of leases, 2023 was a breakthrough year for the company bike as an alternative to a compay car.

Sales to private individuals fell by 33.3 per cent, while sales to companies fell by 11 per cent. Leasing offers significant advantages to companies, such as reduced administration and no concerns about maintenance, insurance or residual value.

Compared to 2022, 10.9 per cent fewer new speed pedelecs were registered last year, according to Traxio, but it was still the second best year on record. In seven years, the market for new pedelecs has grown by 283 per cent.

Flanders leads the way

Speed pedelecs are electric bicycles with higher powered motors. Standard electric bikes have motors that assist up to 15.5 mph and a max power of 250 W.

The market for used speed pedelecs reached a record high in 2023, with an increase of almost 20 per cent compared to 2022. Traxio attributes the success of the second-hand market largely to the increasing number of leased speed pedelecs being bought up or resold.

Speed pedelecs are particularly popular in Flanders, with more than 15,000 bikes in circulation. E-bike leasing in Wallonia, meanwhile, has not gained traction yet. Traxio expects the number of leased bikes to continue to grow in 2024. "The market does not seem to have reached a saturation point yet," the company said in a press release.

^{© BELGA PHOTO KURT DESPLENTER}