Car market, Good for Business, Latvia, Transport

In January-May 2018 Wess Motors Toyota sold 606 new Toyota automobiles, of which 170 or 28% were hybrid vehicles. The company's market share was 7.3% in the first five months of this year.

Toyota RAV4, Toyota CHR and Toyota Avensis were the most popular models among individual buyers but Toyota Auris and Toyota Corolla were popular in the corporate segment and saw their sales double since the beginning of the year, although Toyota RAV4 still kept its leading position in the corporate segment.

Wess Executive Director Aleksejs Radionovs said that the fastest growth this year had been observed in the corporate segment - by 40%. Gradual slow increase in sales to individuals is also a positive development, he said. "The growth was nearly 11% year-on-year, mostly due to leasing solutions which have become more available," Radionovs said.

During 2017, Wess Motors Toyota sold a total of 1,317 new Toyota cars, up by 331 vehicles from 2016. One-third of the cars sold last year were hybrid vehicles.

Wess, established in 1992, one of the largest auto dealing groups in Latvia. Wess is the authorized dealer of Toyota and Lexus vehicles and authorized maintenance service provider of BMW and Honda autos, and also offers insurance and leasing services.

According to the preliminary figures, Wess closed 2017 was a turnover of EUR 46.9 million, up 17% from 2016.