Latvia 2017. New duties blocked the growth, after 5 years

Latvia Cars Sales Citroen-Berlingo-2019

Latvia Cars Sales slipped down in the 2017 after 5 consecutive growing years. The domestic demand was blocked by new regulation on the sector, established in order to reduce the grey market, flourished to avoid high local taxation.

Latvia economy appears to have moderated in the final quarter of 2017, while still growing at a healthy pace. Year-on-year growth in retail sales accelerated for the second consecutive month in November, suggesting that private consumption continued to benefit from a tight labor market and rapidly growing wages. External demand also remained buoyant, with exports jumping from the previous year in both October and November. However, import growth decelerated considerably in both months. Further signs of a possible slowdown in the domestic economy came from the industrial sector.

Latvia vehicles market in 2017 has broken a series of 5 consecutive growing years. According to data released by Auto Asociacjia, the local Association of Car Manufacturers, total new Car Passengers sold have been 16.692 (-10.1% ) while light commercial vehicles sales have been 2.430 (+9.6%).

  Sales 2012 Sales 2013 Sales 2014 Sales 2015 Sales 2016 Sales 2017 Sales 2018 e
Car 12.901 12.811 14.988 16.104 18.563 16.692 16.892
LCV 2.237 2.175 2.815 2.348 2.217 2.430 2.225
Total 15.138 14.986 17.803 18.452 20.780 19.122 19.118

  2012 Var 2013 Var 2014 Var 2015 Var 2016 Var 2017 Var 2018 var e
Car 21,2% -0,7% 17,0% 7,4% 15,3% -10,1% 1,2%
LCV -2,8% 29,4% -16,6% -5,6% 9,6% -8,4%
Total 42,2% -1,0% 18,8% 3,6% 12,6% -8,0% 0,0%

Brand wise, the market leader in the car passenger’s was Volkswagen with 2.320 sales (-9.9%), followed by Toyota with 2.234 (+11.5%) and Nissan with 1.406 (-6.6%).

Rank 2017 Rank 2016 Brand Sales 2017 Sales 2016 Variation 2017 Share 2017 Share 2016
1 1 Volkswagen 2.320 2.576 -9,9% 13,9% 13,9%
2 2 Toyota 2.234 2.004 11,5% 13,4% 10,8%
3 3 Nissan 1.406 1.505 -6,6% 8,4% 8,1%
4 4 Skoda 1.140 1.386 -17,7% 6,8% 7,5%
5 11 Fiat 900 637 41,3% 5,4% 3,4%
6 8 Renault 840 986 -14,8% 5,0% 5,3%
7 5 Ford 744 1.287 -42,2% 4,5% 6,9%
7 7 Peugeot 744 988 -24,7% 4,5% 5,3%
8 6 Opel 696 1.100 -36,7% 4,2% 5,9%
9 12 Hyundai 576 575 0,2% 3,5% 3,1%
10 9 Kia 552 774 -28,7% 3,3% 4,2%

Rank 2017 Rank 2016   Sales 2017 Sales 2016 Variation 2017
1 1 Nissan Qashqai 792 773 2,5%
2 4 Volkswagen Golf 672 574 17,1%
3 5 Volkswagen Passat 564 472 19,5%
4 7 Kia Sportage 552 407 35,6%
5 6 Toyota RAV4 492 441 11,6%
6 2 Skoda Octavia 480 587 -18,2%
7 8 Volkswagen Tiguan 444 381 16,5%
8 9 Citroen Berlingo 343 379 -9,5%
9 10 Toyota Auris 341 360 -5,3%
10 19 Kia Cee’d 327 272 20,2%

(391)

In the spotlight

Laos Automotive Report 2010-2025

Laos Automotive Report 2010-2025 features historical data and insights plus professional forecast on new vehicles sales by type, manufacturer, brand and model providing an easy-to-use picture of current and future competitive landscape.