In May, vehicle registrations in Lithuania fell by 27.15% with respect to May of 2021. In total, 3,845 cars were registered and 38,536 new cars were sold in the last twelve months, 24.48% less than the year before.
The breakdown of car sales figures for the month of May is:
- Commercial vehicles sold: 1,215, 9.67% less than in May of 2021.
- Passenger cars regitrations: 2,630, which represents a figure of 33.13% less than in May of 2021.
Lithuania is the 69th-placed country in ranking of 137 countries based on number of vehicle registrations.
A very useful variable for estimating the level of economic wealth enjoyed by Lithuanians residents, when compared to the other countries in the ranking, is the number of vehicles sold or registered per thousand residents in the last year. With annual sales of 13.73 cars per 1,000 residents, 1.37 of them in the last month, Lithuania, occupies 45th place in the ranking.
As can be seen, the number of registrations per thousand residents has fallen in the last year. A drop in registrations generally indicates a fall in consumer confidence and, when it is sustained, a recession in the real economy.
Changes in Lithuanian vehicle registration numbers are shown in the tables below. As several studies indicate, these changes are very much related to changes in GDP and, hence, to a country's economic situation. Sales have grown since 2012, as 17,752 were produced that year as have the number of registrations per thousand residents, which that year numbered 5.91.
Here we show you the progression of vehicle registrations in Lithuania. You can see car registrations in other countries in en vehicle registrations and see all the economic information about Lithuania in en Lithuanian economy.