Original Automotive market research and Automotive sector trend analysis for the Latvia Automotive industry.
Competitive intelligence, Latvian Automotive company rankings and SWOT analyses on international and domestic Automotive companies in Latvia.
The Latvia Automotives Report has been researched at source, and features latest-available data covering production, sales, imports and exports; 5-year industry forecasts through end-2011; company rankings and competitive landscapes for multinational and local manufacturers and suppliers; and analysis of latest industry developments, trends and regulatory changes.
It’s Latviai Automotives Report provides industry professionals and strategists, corporate analysts, auto associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on the Latvian automotives market.
Key Benefits
Benchmark It’s independent 5-year Automotives Industry forecasts on Latvia to test other views – a key input for successful budgetary and planning in the Latvian Automotives market.
Target Business Opportunities & Risks in the Latvian Automotives sector through our reviews of latest industry trends, regulatory changes and major deals, projects and investments in Latvia.
Exploit the Latest Competitive Latvian Automotives Intelligence & company SWOTS on your competitors and peers through company rankings by production, sales, market share and ownership structure – includes multi national and national companies in Latvia.
Coverage
Executive Summary & Swot Analysis : Summary of the key industry forecasts and trend analysis, and commentary on key company and industry headline events. Collection of SWOT studies on local automotives market, economy and business environment.
Regional Overview : Cross-border analysis on the structure, size and value of the automotives sector, including comparative historical data and forecasts on the region’s sales and production figures.
Business Environment Rankings : Comparative guide to the region’s business environment, ranking of the regional markets by CBU Output Growth, Vehicle Penetration Potential, Regulation, Market Competition, Economics Risk and Politics Risk. The rankings table provides view on the competitiveness of the regional markets.
Market Overview : Outlook of local market, commenting on its structure, size and value.
5-Year Industry Forecast : Historic data series and 5-year forecasts to end-2009 for all key industry indicators (see list below), supported by explicit assumptions, plus analysis of key downside risks to the main forecast, including: Total production value (US$bn); total production of units; production by vehicle-type, including cars, commercial vehicles, trucks and buses; total sales value (US$bn); sales by vehicle-type, including passenger cars and commercial vehicles (vans and microbuses, pickups, trucks and buses, 4 wheel drive); total exports by value (US$bn) and by units; total imports by value (US$bn) and by units; contribution to GDP; employment in industry.
5-Year Macroeconomic Forecast : The forecasts for all headline macroeconomic indicators, including real GDP growth, inflation, fiscal balance, trade balance, current account and external debt.
Competitive Landscape : Comparative company analyses and rankings by production, sales, % market share, employees, registration date and ownership structure.
Company Profiles & SWOTS : Company profiles, including SWOT (Strengths, Weaknesses, Opportunities & Threats) analyses, fully researched senior executives and full contact details, business activity, leading products and services.
Executive Summary
The Sector At A Glance
Key Insights On The Automotive Sector Of Latvia
It's Latvia Automotives Report for Q406 examines the sustained growth in the Latvian car market, which saw sales grow 51.1% year-on-year (y-o-y) to 19,422 units in the first eight months of 2006, confirming the country's status as the fastest growing car market in Europe. BMI expects a firm GDP growth rate to lend support to future expansion in sales. The performance seen in the first eight months of 2006 has led to an upward revision in our sales growth forecast for 2006, from 34.2% to 38.7% - growth rates in Q4 will be lower due to a higher base level. However, we continue to forecast a slowdown in the market from 2007 due to a downturn in GDP growth and the introduction of government measures to moderate consumer demand in order to reduce inflation to ensure stable and sustainable growth. Bringing down inflation will be essential in order to meet the criteria for entry into the eurozone and this will have an impact on car sales growth. BMI expects this to have a moderating influence on vehicle sales, with automotive sales growth falling to around 8% by 2010.
The main factors behind rapid market growth in Estonia, Latvia and Lithuania are rising real wages, tax cuts and greater availability of consumer credit. The Baltic states, none of which have any significant automotive production capacity, also have a lower level of car ownership compared to other EU accession states. As such, growth potential in these markets is greater than elsewhere in the EU. Of the three Baltic markets, Latvia is experiencing the strongest growth. BMI forecasts indicate greater market convergence among the three Baltic markets in the years ahead, with the difference in sales between the smallest market, Lithuania, and the largest market, Estonia, falling from around 45% in 2004 to 6% by 2010. Latvia is set for the highest rate of growth among the three markets, with sales set to almost match those of Estonia by the end of the decade.
Toyota led the market in the first nine months of 2006, with its sales rising 36% y-o-y to 2,100 units, although its market share fell from 13.1% to 11.9%. However, Volkswagen saw its sales soar 127% to 1,584 units, moving it from third to second place with its market share rising from 5.9% to 9.0%. Hyundai and Skoda also recorded high growth rates of 127% and 106% respectively. The only big loser on the surging Latvian market is Kia, with its sales dropping 46%, leading to a decline in market share from 3.6% to 1.3%. Most other brands recorded high rates of sales growth on the Latvian market.
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