The Dacia Duster tops the models ranking in Iceland in March.

The Icelandic new car market continues to crash in March at a daunting -71% year-on-year to just 531 units, leading to a Q1 volume off -60.4% to 1,385. March 2023 alone so 32% more sales than Q1 2024… The reason for this dismal performance is the discontinuation of the VAT discount for electric vehicles as well as the implementation of a kilometre-rate charge for all EVs. This month Dacia (-56.4%) tops the brands charts with 13.4% share ahead of Hyundai (-32.1%) and Kia (-76.9%). Tesla (-88.5%) and Toyota (-83.5%) implode while Skoda (+8%) lodges the only year-on-year gain in the Top 10. Model-wise, the Dacia Duster is the best-seller with a salient 13% share, distancing the Tesla Model Y at 9.2%. The Hyundai Tucson and Kia Ceed are equal #3 and are followed by the Renault Trafic and Hyundai Santa Fe. 

Previous month: Iceland February 2024: Toyota Prado leads crashing market

One year ago: Iceland March 2023: Tesla Model Y up to 19.8% share, registrations surge 26.3%

Full March 2024 Top 36 All brands and Top 20 models below.

Iceland March 2024 – brands:

PosBrandMar-24%/23Feb2024%/23PosFY231Dacia7113.4%– 56.4%814010.1%– 39.7%242Hyundai5710.7%– 32.1%10977.0%– 55.1%463Kia519.6%– 76.9%31128.1%– 73.4%334Tesla519.6%– 88.5%4876.3%– 86.0%615Toyota458.5%– 83.5%122015.9%– 56.9%126Mercedes336.2%– 37.7%9715.1%– 29.0%7107Volvo326.0%– 30.4%6624.5%– 51.2%878Skoda275.1%+ 8.0%15463.3%– 41.8%1099Land Rover244.5%– 36.8%2906.5%– 7.2%51110Volkswagen214.0%– 67.2%12533.8%– 61.0%9511Renault214.0%– 61.8%20362.6%– 64.0%141412Subaru122.3%+ 33.3%5402.9%+ 81.8%121913Mazda91.7%– 80.4%7362.6%– 69.0%13814Jeep91.7%+ 800.0%14312.2%+ 10.7%162215Nissan71.3%– 84.8%11453.2%– 26.2%111616BMW71.3%– 69.6%13332.4%– 25.0%151817Lexus61.1%– 33.3%24120.9%– 53.8%202318Ford50.9%– 80.0%16171.2%– 65.3%181219Citroen50.9%– 73.7%3370.5%– 69.6%292520Mitsubishi50.9%+ 400.0% –50.4%– 61.5%323121Audi40.8%– 78.9%18231.7%– 50.0%171722Porsche40.8%– 50.0%29100.7%– 54.5%243023Peugeot 30.6%– 92.9%2180.6%– 92.0%262024Opel30.6%– 90.9%3640.3%– 92.9%342425Aiways30.6%– 25.0% –30.2%– 87.0%363226Polestar20.4%– 92.0%17130.9%– 71.1%191527Honda20.4%– 75.0%22100.7%– 44.4%222628Ssangyong20.4%+ 0.0%23100.7%+ 11.1%233629MG20.4%– 77.8%2880.6%– 78.4%272130Ineos20.4%new2570.5%new284631BYD10.2%new3060.4%new302832Suzuki10.2%– 96.9%3140.3%– 90.9%331333Mini10.2%+ 0.0%2630.2%+ 200.0%353834Maxus10.2%– 50.0%3520.1%– 93.8%392935FAW Hongqi10.2%– 75.0% –20.1%– 87.5%403336Great Wall Motors10.2%new –10.1%new4139

Iceland March 2024 – models:

PosModelMar-24%Feb2024%/23PosFY231Dacia Duster6913.0%51118.0%-44.8%122Tesla Model Y499.2%2836.0%-84.3%213Hyundai Tucson214.0%15302.2%-43.4%6204Kia Ceed214.0%n/a221.6%-79.2%13135Renault Trafic173.2%n/a251.8%0.0%10336Hyundai Santa Fe173.2%n/a171.2%325.0%18n/a7VW California152.8%n/a151.1%n/a22n/a8Kia Sportage112.1%n/a191.4%-85.3%1669Skoda Octavia112.1%n/a110.8%83.3%39n/a10Toyota C-HR101.9%6292.1%123.1%8n/a11Range Rover101.9%14211.5%950.0%14n/a12Kia Sorento91.7%4362.6%9.1%51813Volvo XC4091.7%n/a141.0%-39.1%251714Toyota RAV481.5%3503.6%-58.7%4415Volvo EX3081.5%n/a141.0%new23 –16Hyundai Bayon81.5%n/a80.6%60.0%44n/a17Skoda Kodiaq81.5%n/a120.9%-52.0%343418Volvo XC6081.5%n/a130.9%-59.4%303119Land Rover Defender71.3%7302.2%-53.1%72120Toyota Corolla71.3%18161.2%-42.9%2012

Source: Manufacturers