Key Market Indicators
Iceland's vehicle registration is projected to reach approximately 15,940 units by 2028, marking a modest annual growth rate of 0.2% from the current 15,810 units in 2023. Since 2010, the Icelandic market has experienced a steady decline, averaging a decrease of 4.6% each year. This year, Iceland ranks 84th in vehicle registrations worldwide. Latvia has surpassed Iceland, registering 15,810 units. In the global rankings, Canada, China, and Austria hold the second, third, and fourth positions, respectively.
