In August, vehicle registrations in Ireland fell by 25.67% with respect to August of 2002. In total, 8,343 cars were registered and 183,875 new cars were sold in the last twelve months, 4.95% less than the year before.
The breakdown of car sales figures for the month of August is:
- Commercial vehicles sold: 1,524, 39.33% less than in August of 2002.
- Passenger cars regitrations: 6,819, which represents a figure of 21.73% less than in August of 2002.
Ireland is the 17th-placed country in ranking of 23 countries based on number of vehicle registrations.
A very useful variable for estimating the level of economic wealth enjoyed by Irish 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 46.38 cars per 1,000 residents, 2.1 of them in the last month, Ireland, occupies 6th place, so, compared to the other countries in the ranking, its population has a good standard of living.
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.
Here we show you the progression of vehicle registrations in Ireland. You can see car registrations in other countries in en vehicle registrations and see all the economic information about Ireland in en Irish economy.