New Report Available: Latvia Autos Report 2014

BMI forecasts a 1.4% drop in total vehicle sales in 2013, despite an expected uptick in the passenger car segment, on the back of our bearish outlook for commercial vehicles (CVs). In 2014, we forecast a 4.2% increase in vehicle sales as the industry shows signs of resurgence.

Despite our initially bearish outlook on the segment, we now expect to see a resurgence in Latvia's passenger car segment. Indeed, on the back of recent growth, lower base effects, and a pick-up in broader measures of retail spending, we now expect to see 3% growth in passenger car sales in 2013.

Full Report Details at
- http://www.fastmr.com/prod/754592_latvia_autos_report_2014.aspx?afid=301

BMI maintains a generally bearish outlook on the commercial vehicle (CV) segment in Latvia. Industrial production has remained fairly weak throughout 2013, and tepid external demand has weighed on broader measures of economic growth. We believe that this, combined with high base effects from strong sales growth in 2012, has served to temper CV demand over the course of the year. Accordingly, we forecast a 9% drop in LCV sales in 2013, as base effects in Q4 help buoy the y-o-y growth rate for the LCV segment while dampening growth in the heavy truck segment.

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