In October, vehicle registrations in Greece fell by 7.06% with respect to October of 2007. In total, 21,929 cars were registered and 303,363 new cars were sold in the last twelve months, 1.33% less than the year before.
The breakdown of car sales figures for the month of October is:
- Commercial vehicles sold: 2,263, 9.7% less than in October of 2007.
- Passenger cars regitrations: 19,666, which represents a figure of 6.74% less than in October of 2007.
Greece is the 33th-placed country in ranking of 135 countries based on number of vehicle registrations.
A very useful variable for estimating the level of economic wealth enjoyed by Greeks 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 27.43 cars per 1,000 residents, 1.98 of them in the last month, Greece, occupies 26th 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 Greek 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 1998, as 195,701 were produced that year as have the number of registrations per thousand residents, which that year numbered 18.3.
Here we show you the progression of vehicle registrations in Greece. You can see car registrations in other countries in en vehicle registrations and see all the economic information about Greece in en Greek economy.