In May, vehicle registrations in Portugal fell by 31.6% with respect to May of 2002. In total, 22,765 cars were registered and 275,439 new cars were sold in the last twelve months, 21.92% less than the year before.
The breakdown of car sales figures for the month of May is:
- Commercial vehicles sold: 5,904, 19.24% less than in May of 2002.
- Passenger cars regitrations: 16,861, which represents a figure of 35.08% less than in May of 2002.
Portugal is the 16th-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 Portuguese 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 26.37 cars per 1,000 residents, 2.18 of them in the last month, Portugal, occupies one of the final places in the ranking, meaning that its population is among those in the table with the least spending power.
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 Portugal. You can see car registrations in other countries in en vehicle registrations and see all the economic information about Portugal in en Portuguese economy.