In May, vehicle registrations in Iceland grew by 23.46% with respect to May of 2014. In total, 2,805 cars were registered and 12,514 new cars were sold in the last twelve months, 35.59% more than the year before.
The breakdown of car sales figures for the month of May is:
- Commercial vehicles sold: 191, 63.25% more than in May of 2014.
- Passenger cars regitrations: 2,614, which represents a figure of 21.3% more than in May of 2014.
Iceland is the 97th-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 Icelanders 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 38.03 cars per 1,000 residents, 8.52 of them in the last month, Iceland, occupies 16th 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 Icelandic 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 declined since 2005, as 16,865 were registered that year, as have the number of registrations per thousand residents, which that year numbered 57.45.
Here we show you the progression of vehicle registrations in Iceland. You can see car registrations in other countries in en vehicle registrations and see all the economic information about Iceland in en Icelandic economy.