For the 15th year in a row, BMW has maintained its leading position in the premium segment of new cars. In 2021, 582 new BMW cars were registered in Latvia, which is a new record and has allowed to significantly increase the market share.
BMW has been the best-selling premium car brand in Latvia since 2007, and new sales records were set last year. If before the pandemic in 2019 509 new BMWs reached Latvian customers, then in 2020 there was a decrease to 432 units. It should be noted, however, that the overall market decline in 2020 was 26%, while in the case of BMW it was only 15%. Last year, BMW in Latvia managed not only to return to the pre-pandemic level, but to significantly exceed it by registering 582 new vehicles.
This result allowed BMW to rise to the 7th best-selling passenger car manufacturer in Latvia, while significantly increasing its dominance in the premium segment. If in 2019 and 2020 the market share of the BMW premium segment was slightly below 30%, then in 2021 it increased to a significant 36.7%. While the growth of the entire premium segment was 6% last year, BMW’s growth compared to 2020 was an impressive 35%.
The BMW 1 Series (Compact), BMW 3 Series (Medium), BMW 5 Series (Large) and BMW X5 (Medium SUV) took the lead in the Premium segment in their respective classes. It should be noted that the BMW X5 was a convincing leader not only among premium models, but completely in this class. Thus, every fifth new medium SUV in Latvia in 2021 was a BMW X5. According to the Classification of the Auto Association, the compact SUV class covers a very wide range of models, however, here too BMW has managed to gain a leading position in the premium segment with the X1, X2, X3, X4, iX3 and iX models.
This year, the sporty and exclusive BMW M Series vehicles have also hit the streets of Latvia – the all-new BMW M4 and BMW M5. It is also important to emphasize the continuing popularity of the BMW i3 in the used car market – the number of the first BMW electric cars on Latvian roads now exceeds the mark of 400 cars, making it by far the most popular electric car in Latvia.
Dmitry Zelenin, director of BMW’s Inchcape BMW, outlines the near future of BMW and the electric car: “The role of the electric car in the BMW model range will become increasingly important. three more fully electric vehicles – the electric version of the BMW i4, BMW i7 and BMW X1. In 2023, the BMW Group brands (BMW, MINI, Rolls-Royce) will already have 25 fully electric models. “
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