Data from the study also show that on average, for a car whose mileage has been tampered with, the real mileage differs from the indicator by 102,991 kilometers from the real one. The average age of vehicles tested by carVertical is 11.1 years.
Representatives of the company emphasize that the market value of such cars has significantly decreased compared to the moment of production, so fraudsters can fake mileage and increase the required price.
According to accident and crash data, 58.4% of cars in Latvia have minor or serious damage. They have an average cost of €3,675 per accident.
The data collected also show that Latvia's second-hand car market is one of the least transparent in Europe. Of all 25 countries included in the “Market Transparency Index”, Latvia ranks 24th.
According to the study, in neighboring Lithuania, 8.3% of cars have fake mileage, while 57.6% of vehicles have damage.
The study uses “carVertical” vehicle history reports of data provided by customers over the period from October 2022 to September 2023.
