Icelandic cars market kept momentum in the 2017 with sales fueled by strong tourism sector and expanding economy. Following the previous three years positive performance, market grew up again in double-digit. Toyota is market leader.
Iceland economy has continued to show signs of resilience through the 2017. Economic growth continued easing towards potential through year-end. The labor market appears to have rounded out the year in good shape, with tight conditions helped along by the crush of tourists that boosted the services sector. Tourism experienced another year of eye-watering annual growth, with tourist arrivals rising by nearly a quarter in 2017—to more than two million—despite the rapid appreciation of the krona following last year’s lifting of capital controls
The automotive industry is in a positive track since 2014 with last year at the best since 2009 and should be still positively influenced by the growth of tourist sector and national economy expansion. According to data released by the Minister of Transportation, in the 2017 car passenger’s sales have been 20.520 (+10.9%).
| Sales 2012 | Sales 2013 | Sales 2014 | Sales 2015 | Sales 2016 | Sales 2017 | Sales 2018 e | |
|---|---|---|---|---|---|---|---|
| Car | 8.419 | 7.396 | 9.432 | 13.936 | 18.508 | 20.520 | 21.763 |
| LCV | 410 | 568 | 853 | 1.376 | 1.613 | 2.083 | 2.175 |
| Total | 8.829 | 7.964 | 10.285 | 15.312 | 20.121 | 22.603 | 23.938 |
| 2012 Var | 2013 Var | 2014 Var | 2015 Var | 2016 Var | 2017 Var | 2018 var e | |
|---|---|---|---|---|---|---|---|
| Car | 67,1% | -12,2% | 27,5% | 47,8% | 32,8% | 10,9% | 6,1% |
| LCV | 19,2% | 38,5% | 50,2% | 61,3% | 17,2% | 29,1% | 4,4% |
| Total | 64,0% | -9,8% | 29,1% | 48,9% | 31,4% | 12,3% | 5,9% |
Brand-wise, the market leader was again Toyota with 3.633 sales (+18.4%) ahead of Kia with 2.249 (+30.7%) and Hyundai with 1.752 (+28.9%).
| Rank 2017 | Rank 2016 | Brand | Sales 2017 | Sales 2016 | Variation 2017 | Share 2017 | Share 2016 |
|---|---|---|---|---|---|---|---|
| 1 | 1 | Toyota | 3.633 | 3.069 | 18,4% | 17,1% | 16,7% |
| 2 | 2 | Kia | 2.249 | 1.721 | 30,7% | 10,6% | 9,3% |
| 3 | 4 | Hyundai | 1.752 | 1.359 | 28,9% | 8,3% | 7,4% |
| 4 | 3 | Volkswagen | 1.342 | 1.604 | -16,3% | 6,3% | 8,7% |
| 5 | 6 | Nissan | 1.252 | 923 | 35,6% | 5,9% | 5,0% |
| 6 | 7 | Mazda | 1.244 | 877 | 41,8% | 5,9% | 4,8% |
| 7 | 8 | Renault | 1.001 | 811 | 23,4% | 4,7% | 4,4% |
| 8 | 5 | Skoda | 941 | 1.095 | -14,1% | 4,4% | 5,9% |
| 9 | 8 | Ford | 934 | 811 | 15,2% | 4,4% | 4,4% |
| 10 | 14 | Mitsubishi | 829 | 391 | 112,0% | 3,9% | 2,1% |
| 11 | 9 | Suzuki | 721 | 751 | -4,0% | 3,4% | 4,1% |
| 12 | 11 | Dacia | 616 | 517 | 19,1% | 2,9% | 2,8% |
| 13 | 10 | Honda | 604 | 703 | -14,1% | 2,8% | 3,8% |
| 14 | 13 | Mercedes | 522 | 412 | 26,7% | 2,5% | 2,2% |
| 15 | 15 | Subaru | 479 | 372 | 28,8% | 2,3% | 2,0% |
| 16 | 16 | Peugeot | 414 | 340 | 21,8% | 2,0% | 1,8% |
| 17 | 19 | Land Rover | 366 | 286 | 28,0% | 1,7% | 1,6% |
| 18 | 17 | Volvo | 363 | 319 | 13,8% | 1,7% | 1,7% |
| 19 | 22 | SsangYong | 359 | 222 | 61,7% | 1,7% | 1,2% |
| 20 | 20 | BMW | 301 | 251 | 19,9% | 1,4% | 1,4% |
| 21 | 23 | Audi | 256 | 196 | 30,6% | 1,2% | 1,1% |
| 22 | 21 | Citroen | 211 | 225 | -6,2% | 1,0% | 1,2% |
| 23 | 25 | Fiat | 198 | 99 | 100,0% | 0,9% | 0,5% |
| 24 | 12 | Opel | 149 | 414 | -64,0% | 0,7% | 2,2% |
| 25 | 24 | Jeep | 144 | 103 | 39,8% | 0,7% | 0,6% |
| 26 | 27 | Porsche | 102 | 73 | 39,7% | 0,5% | 0,4% |
| 27 | 26 | Lexus | 80 | 80 | 0,0% | 0,4% | 0,4% |
| 28 | 34 | Jaguar | 55 | - | |||
| 29 | 28 | Capron | 48 | 54 | |||
| 30 | 18 | Chevrolet | 18 | 307 | |||
| 31 | 29 | Dodge | 12 | 14 | |||
| 32 | 30 | Tesla | 9 | 6 |
