Latvia Autos Report 2015 - Business Monitor International - Industry Reports

Latvia Autos Report 2015

Latvia Autos Report 2015 - Business Monitor International - Industry Reports
Latvia Autos Report 2015
Published Nov 22, 2014
57 pages — Published Nov 22, 2014
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On the commercial vehicle side, -M-- figures from ACEA show a total of -,--- light commercial vehicles (LCVs) sold in country, with a further --- medium and heavy commercial vehicles sold, plus a further --- buses, for a total of -,--- units sold year-to-date. Adding the -,--- CV units to the -,--- PCs sold over -M-- makes for a total new vehicle market of --,--- units. ...The outlook for private consumption, a key indicator of the potential demand for new passenger vehicles within Latvia, is somewhat better. Moreover, against a backdrop of subdued inflation, the European Central Bank (ECB) looks set to keep interest rates at very low levels (the current lending rate was cut to just -.-- in September ---- and the deposit rate was cut to --.- ), which should in turn lead to lower car financing rates and act as a support to Latvian new vehicle demand over the near term. This is why we currently hold a higher sales growth forecast for passenger cars (-.- ) than commercial vehicles (-.- ) in ----. ...Over the full forecast period to ----, BMI is currently forecasting -- growth in new vehicle sales, to reach around --,--- units sold per annum. This would still represent a fall from the market s ---- peak of over.

...As of end-September ----, German carmaker Volkswagen (VW) and Japanese carmaker Toyota remain the dominant players within the Latvian passenger car segment, with reported market shares of --.- and --.- respectively. The most recent comprehensive data by brand (for -M--) show that VW continues to hold a dominant position in new passenger vehicle sales, selling --- units over the period, for a market share of --.- . In second place is Toyota, which sold --- units for a market share of -- , followed by VW s Skoda subsidiary on --- units (- ). With the presence of another VW subsidiary, Audi, in tenth position, as well as small numbers of Porsche and SEAT sales in country, it is clear that the wider Volkswagen group has a dominant market position within Latvia, which it seems unlikely to relinquish any time soon. Overall, the Top -- is still dominated by European (-) manufacturers, with Toyota and Nissan the two Japanese manufacturers and Kia the sole Korean manufacturer within the Top -- (in seventh position). In terms of the top-selling models within Latvia over early ----, Peugeot s ---- a is the top-seller, followed by Skoda s Yeti and Octavia models. VW s Golf and Passat models are also popular, alongside

...The make-up of the CV segment varies across the three Baltic states. Estonia s market is heavily skewed towards LCVs, which represented over -- of total CV sales over the -M-- period, compared with -- for Latvia and just -- for Lithuania. ...

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Business Monitor International - Industry Reports—Established in 1984, Business Monitor International is a leading online publisher of specialist business information on global emerging markets. Business Monitor's range of quarterly services covers political risk, finance, macroeconomic performance, outlook and forecast, industry sectors and the business operating environment. Each Industry Report has been researched at source, and features latest-available data covering production, sales, imports and exports; 5-year industry forecasts through end-2012; company rankings and competitive landscapes for multinational and local manufacturers and suppliers; and analysis of latest industry developments, trends and regulatory changes.

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Business Monitor International - Industry Reports. "Latvia Autos Report 2015" Nov 22, 2014. Alacra Store. Oct 27, 2016. <>
Business Monitor International - Industry Reports. (2014). Latvia Autos Report 2015 Nov 22, 2014. New York, NY: Alacra Store. Retrieved Oct 27, 2016 from <>
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