In June, vehicle registrations in Iceland fell by 8.06% with respect to June of 2006. In total, 2,693 cars were registered and 17,680 new cars were sold in the last twelve months, 21.25% less than the year before.
The breakdown of car sales figures for the month of June is:
- Commercial vehicles sold: 366, 15.46% more than in June of 2006.
- Passenger cars regitrations: 2,327, which represents a figure of 10.91% less than in June of 2006.
Iceland is the 82th-placed country in ranking of 135 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 57.46 cars per 1,000 residents, 8.75 of them in the last month, Iceland, occupies 4th 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 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 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.