Key Market Indicators
Iceland's car registration is projected to hit approximately 14,400 units by 2028, up from around 14,210 units in 2023. This represents an average annual growth of 0.3%. Despite this modest growth, Iceland has experienced a decline in car registration demand since 2010, averaging a 4.6% decrease each year. In the global ranking for 2023, Iceland stood at 80th position, with Jordan surpassing it by registering the same number of units, 14,210. On a broader scale, Indonesia, Austria, and Belgium secured the 2nd, 3rd, and 4th spots respectively in the global car registration rankings.
