D'Ieteren Automotive
D’Ieteren Automotive is the official distributor of Volkswagen brands in Belgium. The company distributes Volkswagen, Audi, SEAT, Škoda, Cupra, Porsche, Bentley, Lamborghini, Bugatti, Rimac, Maserati and Microlino alongside spare parts and accessories. There are around 1.4 million VW-branded vehicles on the road, with a leading market share of 22.8% in passenger cars. D’Ieteren Automotive manages a strong network of independent dealers across the country and operates dealerships on the Brussels-Mechelen-Antwerp axis. To complete its offering, the company sells used vehicles (My Way and Audi Approved+) and provides maintenance, financing and leasing services through VDFin, a joint venture with Volkswagen Financial Services. Its activity in aftersales has been gradually reinforced covering mechanical after‑sales (including spare parts) within the official network, as well as bodywork and mechanical repairs through its Wondercar and Wonderservice networks. The company’s purpose is to build seamless and sustainable mobility for everyone.
Investment Case – Our Journey with D’Ieteren Automotive
The last 75 years: “A long-term partnership with Volkswagen Group to become the leading automotive distributor in Belgium”
D’Ieteren Automotive's activity started in 1948, when Pierre D’Ieteren signed the import contract for the legendary Beetle with the Volkswagen Group. Year after year, the company successively integrated new brands to increase its market share to almost 22.8% in 2025 In recent years, the D’Ieteren Group team collaborated with management to achieve the following significant milestones:
- The consolidation of the retail network from 150+ small independent dealers to 17 large and financially-sound market areas;
- The acquisition, integration and restructuring of dealerships along the Brussels-Mechelen-Antwerp axis, as well as the development of maintenance and bodyshop services notably via the independent chains Wondercar and Wonderservice;
- The improvement of spare parts distribution, through the sale of maintenance contracts, higher warehouse automation and optimised logistics;
- The launch of D’Ieteren Luxury Performance to elevate customer experience for luxury brands, with the addition of the Maserati brand for distribution.
The path ahead: “Becoming the leader for mobility in Belgium”
The D’Ieteren Group team fully supports D’Ieteren Automotive in its vision to ‘develop fluid and sustainable mobility for all’. The transition from selling vehicles to offering mobility solutions requires a significant shift in mindset and a relentless focus on customer experience and satisfaction. The company launched several start-up initiatives that have become leading scale-ups, to adapt to new customer needs and fully embrace the market trends impacting the automotive industry (Autonomous, Connected, Electric, Shared):
- The development of several new-mobility scale-ups with Poppy (car sharing and leasing), Taxis Verts / Husk (taxi services), Mbrella (HR & mobility solutions for fleets) and Lizy (leasing of second-hand vehicles)
- The development of EDI (Electric by D’Ieteren)’s charging stations and cards, becoming the number one residential and semi-public charging stations’ player in Belgium and a prominent player in the cards’ business;
- The expansion of Lucien, a leading (e-) bike retail group, and Joule (bike leasing).
In addition, the D’Ieteren Group team collaborates closely with the management to investigate new growth opportunities, improve the operational performance and pursue the digital transformation of the company:
- Assess the opportunity to launch new products and services to address new customer segments;
- Capture more potential in After-sales including by growing the Wondercar and Wonderservice national footprint
- Transform the core business to achieve greater efficiency;
- Become a data-led company with a centralized data universe.
D’Ieteren Group is also actively engaged with D’Ieteren's management team to ensure the company reaches its non-financial and sustainability targets. Recognizing D’Ieteren’s ESG efforts, D’Ieteren Automotive was notably awarded EcoVadis Platinum (top 1%) in 2025.
