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

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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 2012Sales 2013Sales 2014Sales 2015Sales 2016Sales 2017Sales 2018 e
Car12.90112.81114.98816.10418.56316.69216.892
LCV2.2372.1752.8152.3482.2172.4302.225
Total15.13814.98617.80318.45220.78019.12219.118

2012 Var2013 Var2014 Var2015 Var2016 Var2017 Var2018 var e
Car21,2%-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%
Total42,2%-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 2017Rank 2016BrandSales 2017Sales 2016Variation 2017Share 2017Share 2016
11Volkswagen2.3202.576-9,9%13,9%13,9%
22Toyota2.2342.00411,5%13,4%10,8%
33Nissan1.4061.505-6,6%8,4%8,1%
44Skoda1.1401.386-17,7%6,8%7,5%
511Fiat90063741,3%5,4%3,4%
68Renault840986-14,8%5,0%5,3%
75Ford7441.287-42,2%4,5%6,9%
77Peugeot744988-24,7%4,5%5,3%
86Opel6961.100-36,7%4,2%5,9%
912Hyundai5765750,2%3,5%3,1%
109Kia552774-28,7%3,3%4,2%
Rank 2017Rank 2016Sales 2017Sales 2016Variation 2017
11Nissan Qashqai7927732,5%
24Volkswagen Golf67257417,1%
35Volkswagen Passat56447219,5%
47Kia Sportage55240735,6%
56Toyota RAV449244111,6%
62Skoda Octavia480587-18,2%
78Volkswagen Tiguan44438116,5%
89Citroen Berlingo343379-9,5%
910Toyota Auris341360-5,3%
1019Kia Cee’d32727220,2%