In July, vehicle registrations in Iceland grew by 46.85% with respect to July of 2004. In total, 2,072 cars were registered and 18,379 new cars were sold in the last twelve months, 43.27% more than the year before.
The breakdown of car sales figures for the month of July is:
- Commercial vehicles sold: 265, 45.6% more than in July of 2004.
- Passenger cars regitrations: 1,807, which represents a figure of 47.03% more than in July of 2004.
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 62.6 cars per 1,000 residents, 7.06 of them in the last month, Iceland, occupies second place, so, compared to the other countries in the ranking, its population has a good standard of living.
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.