In May, vehicle registrations in Iceland grew by 2.7% with respect to May of 2003. In total, 1,368 cars were registered and 12,227 new cars were sold in the last twelve months, 32.77% more than the year before.
The breakdown of car sales figures for the month of May is:
- Commercial vehicles sold: 172, 28.36% more than in May of 2003.
- Passenger cars regitrations: 1,196, which represents a figure of 0.17% less than in May of 2003.
Iceland 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 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 42.08 cars per 1,000 residents, 4.71 of them in the last month, Iceland, occupies 11th 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.
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.