In February, vehicle registrations in Luxembourg fell by 11.22% with respect to February of 2003. In total, 4,652 cars were registered and 47,880 new cars were sold in the last twelve months, 1.1% less than the year before.
The breakdown of car sales figures for the month of February is:
- Commercial vehicles sold: 320, 43.96% less than in February of 2003.
- Passenger cars regitrations: 4,332, which represents a figure of 7.22% less than in February of 2003.
Luxembourg is one of the countries where the least number of cars have been registered in the last year, in ranking of 31 countries based on number of vehicle registrations.
A very useful variable for estimating the level of economic wealth enjoyed by Luxembourgers 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 105.24 cars per 1,000 residents, 10.23 of them in the last month, Luxembourg, occupies pole position, which tells us that its population enjoys a high 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 Luxembourg. You can see car registrations in other countries in en vehicle registrations and see all the economic information about Luxembourg in en Luxembourg economy.