In the last week of October this year, sales of winter tires have increased by more than 70% compared to the first weeks of October, according to operational data of the online store “220.lv”.
Budget-class tires were the most popular among buyers, spending an average of 60 euros for one tire, or 240 euros being invested in the purchase of a set of four tires.
“220.lv” admits that the sales results at the end of October were affected by the weather, which encouraged many to prepare their vehicles for winter conditions sooner.
Compared to September, three times more winter tires were purchased in the store “220.lv” in Latvia in October. The same sales results were installed on the sales platform of “220.lv” parent company “PHH Group” in Finland. On the other hand, 4.5 times more winter tires were sold in Lithuania, and four times more in Estonia.
The company notes that the demand for winter tires is seasonal in nature, which is affected by both the weather and the mandatory requirement to equip vehicles with winter tires from December 1. Therefore, the company predicts that demand will remain high throughout November.
Evaluating the choice of buyers, “220.lv” data shows that this year Latvian drivers choose budget class winter tires, which make up almost 74% of all tires sold. This is followed by mid-range tires, which account for 18% of sales, while more than 8% are “premium” tires.
Budget tires are also the most popular in Lithuania and Finland, while middle-class tires dominate in Estonia, accounting for almost 65% of sales.
According to “220.lv” data, buyers in Estonia spent an average of 97 euros for one tire, in Finland – 79 euros, meanwhile in Lithuania – more than 68 euros, and in Latvia – almost 60 euros.
As already announced, the manager of the internet store “220.lv” SIA “Pigu Latvia” in the last financial year, which lasted from April 1, 2022 to March 31 of this year, worked with a turnover of 35.07 million euros, which is 13, 9% less than a year earlier, at the same time the company suffered a loss of 573,371 euros compared to the profit a year earlier.
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2023-11-13 08:01:02
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