In May, vehicle registrations in Latvia grew by 87.8% with respect to May of 2020. In total, 1,786 cars were registered and 18,318 new cars were sold in the last twelve months, 7.73% more than the year before.
The breakdown of car sales figures for the month of May is:
- Commercial vehicles sold: 409, 97.58% more than in May of 2020.
- Passenger cars regitrations: 1,377, which represents a figure of 85.08% more than in May of 2020.
Latvia is the 85th-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 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 9.68 cars per 1,000 residents, 0.94 of them in the last month, Latvia, occupies 55th place in the ranking.
As can be seen, the number of registrations per thousand residents has grown in the last year. The increase in this figure is positive, as it generally indicates improved public confidence in the country's economy.
Changes in Latvian 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 2011, as 10,544 were produced that year as have the number of registrations per thousand residents, which that year numbered 5.08.
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.