In February, vehicle registrations in Luxembourg fell by 4.53% with respect to February of 2007. In total, 4,705 cars were registered and 56,706 new cars were sold in the last twelve months, 2.05% more than the year before.
The breakdown of car sales figures for the month of February is:
- Commercial vehicles sold: 553, 31.04% more than in February of 2007.
- Passenger cars regitrations: 4,152, which represents a figure of 7.86% less than in February of 2007.
Luxembourg is the 60th-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 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 117.21 cars per 1,000 residents, 9.73 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.
Changes in Luxembourg 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 34,545 were produced that year as have the number of registrations per thousand residents, which that year numbered 81.85.
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.