A total of 3,745 new cars were sold in Latvia in 2009 an 80.5% decrease on 2008, according to the Latvian Authorised Automobile Dealers Association.
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Latvia’s car market suffered as the economy underwent crisis in 2009; Latvia has been one of Eastern Europe’s worst casualties of the international financial crisis (the country was bailed out by the IMF in late 2008).
Latvia’s economy is expected to have contracted by almost a fifth in 2009.
Toyota led the Latvian car market in 2008 with new car registrations of 697 units – some 70% down on the previous year. In second place, Volkswagen sold 309 cars in 2009.
Some 19,192 cars were sold in Latvia in 2008, which was 41% down on 2007’s market.
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