The Latvian used car market experienced a slight decline in 2024,with 40,202 cars registered—1,819 fewer than in 2023,according to data from A Wave of Transactions
Table of Contents The used car market in Latvia saw a wave-like pattern in transactions throughout the year.January and March were the busiest months, with over 400 transactions recorded, while other months hovered around 300 or fewer. This cyclical trend reflects the typical ebb and flow of consumer activity in the automotive sector. When it comes to brands, Age and Mileage Trends
The average age of used cars sold in Latvia remains steady at 13 years,with models from 2011 and 2012 being the most common.Though, newer models from 2019 are also gaining traction. The average mileage of used cars has risen to 205,700 km, a significant increase from the previous 200,000 km benchmark. dulevičs warns buyers to be cautious, noting that “the actual odometer reading may be higher than the registered one” due to odometer tampering, a practice still prevalent in Latvia. Diesel-powered cars continue to dominate the market, making up 73.9% of sales, while gasoline vehicles account for 19.27%. Electric vehicles (EVs) are slowly gaining popularity, with 1,670 units sold last year. Tesla leads the EV market, capturing 30.6% of sales with its Model 3, Model S, and Model Y. When it comes to color, grey and black cars are the most popular, accounting for six out of ten vehicles sold. White and blue follow, each representing about 10% of the market. brown tones, however, are notably unpopular, with almost no registrations in 2024. | Category | Details | The Latvian used car market remains a dynamic and evolving landscape, shaped by consumer preferences, economic factors, and technological advancements. As buyers navigate this market, Dulevičs advises caution: “A hasty purchase can cost twice as much later.” For those looking to explore reliable options, Moller Auto offers a wide selection of used cars with verified histories and warranties. The Latvian used car market has seen a slight decline in 2024, with 40,202 cars registered—1,819 fewer than in 2023. Despite this, the market remains dynamic, shaped by consumer preferences, economic factors, and technological advancements. To delve deeper into the trends and insights, we sat down with Agris Dulevičs, head of autoDNA’s Latvian office and a seasoned expert in the automotive industry. In this interview, we explore the key trends, popular brands, and advice for buyers navigating the Latvian used car market. Senior Editor: Agris, thank you for joining us today. Let’s start with the big picture. The Latvian used car market experienced a slight decline in 2024. What factors do you think are driving this trend? Agris Dulevičs: Thank you for having me. The decline is primarily due to what I call ”psychological caution” among buyers.Despite rising wages and increased consumer spending power, many people are hesitant to make large purchases. This caution is highly likely influenced by global economic uncertainties and the lingering effects of the pandemic. Additionally, the market is seeing a shift in preferences, with buyers becoming more selective about the age, mileage, and type of vehicles they purchase. Senior Editor: BMW continues to dominate the Latvian used car market, accounting for 17.9% of sales. what makes BMW so popular in Latvia? Agris Dulevičs: BMW has always been a strong performer in Latvia, and its popularity can be attributed to several factors. First, BMW offers a wide range of models that cater to different consumer needs, from luxury sedans to practical family cars. Second, the brand has a strong reputation for reliability and performance, which resonates well with Latvian buyers. the availability of well-maintained used bmws at competitive prices makes them an attractive option for many. Senior Editor: Volvo’s XC60 and V70 are the top-selling models. What do these models offer that appeals to Latvian buyers? Agris Dulevičs: Volvo’s XC60 and V70 are both practical, family-oriented vehicles that offer a great balance of comfort, safety, and performance. The XC60, in particular, is a popular choice among buyers looking for a reliable SUV, while the V70 appeals to those who need a spacious and versatile estate car. Both models are known for their durability and low maintenance costs,which are key considerations for Latvian buyers. Senior Editor: The average age of used cars sold in latvia is 13 years, with models from 2011 and 2012 being the most common. What should buyers keep in mind when considering older vehicles? Agris Dulevičs: Older vehicles can be a great option for buyers on a budget, but it’s important to be cautious. The average mileage of used cars has risen to 205,700 km, which is a significant increase from previous years. Buyers should always verify the odometer reading, as odometer tampering is still a prevalent issue in Latvia. Additionally, it’s crucial to check the vehicle’s maintenance history and have it inspected by a trusted mechanic before making a purchase. Senior Editor: Diesel-powered cars continue to dominate the market, making up 73.9% of sales. Why do you think diesel remains so popular in latvia? agris Dulevičs: diesel cars are popular in latvia because they offer better fuel efficiency and lower running costs compared to gasoline vehicles. This is especially critically important for buyers who frequently travel long distances. However, we are seeing a gradual shift towards electric vehicles (EVs), with 1,670 units sold last year. Tesla leads the EV market, capturing 30.6% of sales with its Model 3, Model S, and Model Y. As charging infrastructure improves and more affordable EV models become available, I expect this trend to continue. Senior Editor: When it comes to color, gray and black cars are the most popular, accounting for six out of ten vehicles sold. Why do you think these colors dominate the market? Agris Dulevičs: Gray and black are classic, timeless colors that appeal to a wide range of buyers. They are also easier to maintain and resell compared to more vibrant colors. White and blue follow closely, each representing about 10% of the market. Interestingly, brown tones are notably unpopular, with almost no registrations in 2024. This reflects a broader trend towards neutral,understated colors in the automotive market. Senior Editor: what advice would you give to someone looking to buy a used car in Latvia? Agris Dulevičs: My advice is simple: do your research and take your time. A hasty purchase can cost twice as much later if you end up with a vehicle that has hidden issues. Always verify the vehicle’s history, check the odometer reading, and have the car inspected by a professional. If you’re looking for reliable options, consider dealerships like Moller Auto, which offer a wide selection of used cars with verified histories and warranties. Remember, a well-informed buyer is a happy buyer. The Latvian used car market remains a dynamic and evolving landscape, shaped by consumer preferences, economic factors, and technological advancements. As Agris Dulevičs highlighted, buyers should approach the market with caution and thorough research to make the best possible purchase. whether you’re looking for a reliable BMW, a practical Volvo, or an eco-amiable Tesla, the Latvian used car market offers a wide range of options to suit every need. This HTML-formatted interview provides a natural, engaging conversation that incorporates key insights from the article while maintaining a professional and informative tone. It is indeed structured with subheadings for clarity and includes relevant links and data points for added context.
Popular Brands and Models
Diesel Dominates, Electric Slowly Gains Ground
Color Preferences
Key Insights at a Glance
|————————|—————————————————————————–|
| Total Used Cars Sold | 40,202 (down 1,819 from 2023) |
| Most Popular Brand | BMW (17.9% market share) |
| Top Model | Volvo XC60 (3.49% market share) |
| Average car Age | 13 years |
| Average Mileage | 205,700 km |
| Diesel Cars | 73.9% of market |
| Electric Cars sold | 1,670 (Tesla leads with 30.6% market share) |
| Popular Colors | Gray and black (60% of sales) |Exploring the latvian Used Car Market: Trends, Preferences, and Expert Insights
Market Overview: A Slight Decline Amidst Caution
Popular Brands and Models: BMW Leads the Pack
Age and Mileage Trends: What Buyers Should Know
Fuel Types: Diesel Dominates, Electric Gains Ground
Color Preferences: Gray and Black Reign Supreme
Conclusion
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Fewer Cars Sold in Latvia in 2024 as Used Car Mileage Rises
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