New Car Market in Latvia Stagnates; Sharp Growth Expected in Second Half of Year
According to the European Automobile Manufacturers Association, Latvia is one of nine European countries where the new car market has declined by several percentage points, but a sharp rise is forecast for the second half of the year.
The European Automobile Manufacturers Association, which unites virtually all car manufacturers operating in Europe, has released data on the new car market. The figures show that Latvia is one of nine European countries where the new car market has contracted. The decline amounts to several percentage points, covering the period from January to May.
Despite this downturn, market participants predict a sharp growth in the second half of the year. These forecasts suggest that the current stagnation may be temporary, with a significant increase expected in the latter part of 2026.
