Founding a sales and service centre for new and used cars by Škoda in Latvia
In a company announcement published on 4 July 2017, Tallinna Kaubamaja Grupp AS announced their plans to found a subsidiary in Latvia with the aim to develop car trade. On 12 July 2017, VERTA AUTO SIA was entered into the Latvian commercial register.
TKM Auto OÜ, a wholly owned subsidiary of Tallinna Kaubamaja Grupp AS, which is also the sole shareholder of VERTE AUTO SIA, has signed a declaration of intent with the public limited company Auto 100. Pursuant to the declaration, VERTE AUTO SIA will be the distributor of Škoda in Latvia. The plan is to open a sales and service centre for new and used cars by Škoda at the beginning of 2019 at Bikernieku 125, Riga, the immovable property of SIA TKM Latvija, a subsidiary of Tallinna Kaubamaja Grupp AS.
The aim of Tallinna Kaubamaja Grupp AS is to expand in the field of car trade, which has been one of the strategic segments of the group’s business activities since 2007. The group’s car trade segment is the importer of KIA in the Baltic region with an independent dealer network and operates in car retail in two showrooms in Tallinn, one in Riga, and one in Vilnius. In addition to KIA, several other car brands are available, such as OPEL and Cadillac in Estonia and Peugeot in Latvia. The turnover of the group’s car trade segment was 82.6 million euros in 2016. Raul Puusepp
Chairman of the Executive Board
Tel +372 731 5000
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