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Saturday 24.02.2018 | Name days: Diāna, Dina, Dins
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Latvian new car market soars 131.7%

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Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RU

While in March the European Union (EU) reported a drop of 0.5% in the number of registered new cars, compared to the previous March, in the Baltic States this indicator is growing. The biggest increase has been observed in Latvia – 131.7%. In Lithuania the rise in the registered new vehicles comprises 118.8%, in Estonia –86.9%.

In the first quarter of 2011, the number of register new passenger cars has fallen by 2.3%, compared to the same period in 2010, according to the Latvian Authorized Automobile Dealers Association (LAADA) data.

Compared to the first quarter of 2010, this year the largest drop was observed in the UK – by 8.7%, Italy – by 23.1%, in Spain – by 27.3%. As a result, the EU posted an overall fall of 2.3%. The greatest decline – by more than half – was recorded in Greece -57.4%.

During the economic downturn Latvia was two-three times below its Baltic neighbours in terms of new car sales volumes, not to compare with the rest of Europe. Latvia’s current sales increase of 131% is tied to the catastrophically-low purchasing power in 2010, says Viktors Kulbergs, Chairman of the LAADA Board.

The most registered car brands in March 2011: VW Group cars (Volkswagen, Audi, Seat, Skoda) – 21.5%, PSA Group (Peugeot, Citroen) – 12.9% and Renault Group (Renault, Dacia) – 8.9%. These car brands were also leaders in March 2010.

 

 

 


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