In October, vehicle registrations in Latvia fell by 53.42% with respect to October of 2007. In total, 1,565 cars were registered and 27,530 new cars were sold in the last twelve months, 31.42% less than the year before.
The breakdown of car sales figures for the month of October is:
- Commercial vehicles sold: 363, 46.06% less than in October of 2007.
- Passenger cars regitrations: 1,202, which represents a figure of 55.27% less than in October of 2007.
Latvia is the 74th-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 Latvians 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 12.56 cars per 1,000 residents, 0.71 of them in the last month, Latvia, occupies 48th 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.
Here we show you the progression of vehicle registrations in Latvia. You can see car registrations in other countries in en vehicle registrations and see all the economic information about Latvia in en Latvian economy.