Iceland’s new vehicle market took a sharp dive in September, with registrations dropping by 50.8% compared to last year, totaling only 559 vehicles. For the year so far, sales have declined by 40.7%, reaching 8,210 units. Toyota remains the top-selling brand, holding a 14% share despite a 24.3% decline. Hyundai managed a 14.8% increase, bucking the overall trend, while Kia saw a 33% drop. Tesla’s sales plummeted by 83.8%. On the positive side, Land Rover surged by 91.7%, with Skoda and Mazda also seeing slight increases.
This month, the Hyundai Ioniq 5 takes the top spot with a solid 7.9% market share. The Tesla Model 3 jumps to second place, followed by the Toyota RAV4, Tesla Model Y, and Kia Niro. The Ford Explorer enters the Top 10 at number six.
Here are September 2024’s Top 37 brands and Top 25 models.
Iceland September 2024 – brands:
| Pos | Brand | Sep-24 | % | /23 | Aug | 2024 | % | /23 | Pos | FY23 |
| 1 | Toyota | 78 | 14.0% | – 24.3% | 1 | 1,087 | 13.2% | – 55.2% | 2 | 2 |
| 2 | Hyundai | 70 | 12.5% | + 14.8% | 7 | 1,039 | 12.7% | + 47.2% | 3 | 6 |
| 3 | Kia | 59 | 10.6% | – 33.0% | 2 | 1,193 | 14.5% | – 29.3% | 1 | 3 |
| 4 | Tesla | 53 | 9.5% | – 83.8% | 3 | 349 | 4.3% | – 84.1% | 6 | 1 |
| 5 | Volvo | 29 | 5.2% | – 40.8% | 4 | 283 | 3.4% | – 30.0% | 10 | 7 |
| 6 | Skoda | 28 | 5.0% | + 7.7% | 5 | 432 | 5.3% | + 14.9% | 5 | 9 |
| 7 | Mazda | 26 | 4.7% | + 4.0% | 15 | 287 | 3.5% | – 36.9% | 9 | 8 |
| 8 | Land Rover | 23 | 4.1% | + 91.7% | 11 | 312 | 3.8% | + 2.3% | 8 | 11 |
| 9 | Ford | 18 | 3.2% | – 14.3% | 19 | 104 | 1.3% | – 58.6% | 17 | 12 |
| 10 | Mercedes | 15 | 2.7% | – 53.1% | 10 | 224 | 2.7% | – 37.3% | 11 | 10 |
| 11 | Volkswagen | 14 | 2.5% | – 57.6% | 9 | 188 | 2.3% | – 74.5% | 13 | 5 |
| 12 | Audi | 13 | 2.3% | – 27.8% | 17 | 65 | 0.8% | – 67.8% | 23 | 17 |
| 13 | BMW | 13 | 2.3% | – 58.1% | 8 | 127 | 1.5% | – 32.1% | 14 | 18 |
| 14 | BYD | 13 | 2.3% | + 62.5% | 12 | 86 | 1.0% | + 91.1% | 21 | 28 |
| 15 | Honda | 12 | 2.1% | – 20.0% | 6 | 103 | 1.3% | + 53.7% | 18 | 26 |
| 16 | Renault | 11 | 2.0% | – 38.9% | 21 | 110 | 1.3% | – 57.4% | 15 | 14 |
| 17 | Nissan | 10 | 1.8% | – 76.7% | 18 | 218 | 2.7% | + 8.5% | 12 | 16 |
| 18 | Polestar | 10 | 1.8% | – 60.0% | 24 | 54 | 0.7% | – 73.1% | 26 | 15 |
| 19 | MG | 8 | 1.4% | – 42.9% | 32 | 32 | 0.4% | – 78.8% | 31 | 21 |
| 20 | Subaru | 8 | 1.4% | – 63.6% | 29 | 90 | 1.1% | – 44.4% | 20 | 19 |
| 21 | Great Wall Motors | 7 | 1.3% | n/a | 31 | 11 | 0.1% | + 450.0% | 40 | 39 |
| 22 | Xpeng | 6 | 1.1% | new | – | 10 | 0.1% | new | 42 | – |
| 23 | Jeep | 5 | 0.9% | – 93.8% | 13 | 96 | 1.2% | – 44.8% | 19 | 22 |
| 24 | Lexus | 5 | 0.9% | – 64.3% | 14 | 55 | 0.7% | – 52.2% | 25 | 23 |
| 25 | Dacia | 4 | 0.7% | – 60.0% | 23 | 750 | 9.1% | – 29.9% | 4 | 4 |
| 26 | Opel | 3 | 0.5% | – 82.4% | 25 | 27 | 0.3% | – 78.2% | 32 | 24 |
| 27 | Smart | 3 | 0.5% | – 40.0% | – | 44 | 0.5% | + 18.9% | 27 | 27 |
| 28 | Suzuki | 3 | 0.5% | – 62.5% | 34 | 323 | 3.9% | + 2.9% | 7 | 13 |
| 29 | Etrusco | 2 | 0.4% | n /a | – | 18 | 0.2% | + 125.0% | 35 | 42 |
| 30 | FAW Hongqi | 2 | 0.4% | – 33.3% | – | 4 | 0.0% | – 85.2% | 48 | 33 |
| 31 | Peugeot | 2 | 0.4% | – 80.0% | 16 | 64 | 0.8% | – 67.2% | 24 | 20 |
| 32 | Benimar | 1 | 0.2% | n/a | 27 | 33 | 0.4% | + 371.4% | 30 | 44 |
| 33 | Capron | 1 | 0.2% | n/a | 20 | 37 | 0.5% | + 362.5% | 28 | 41 |
| 34 | Ineos | 1 | 0.2% | + 0.0% | – | 12 | 0.1% | + 200.0% | 38 | 46 |
| 35 | Jaguar | 1 | 0.2% | – 50.0% | – | 8 | 0.1% | – 33.3% | 43 | 37 |
| 36 | Mini | 1 | 0.2% | n/a | – | 8 | 0.1% | – 20.0% | 44 | 38 |
| 37 | Ssangyong/KG Mobility | 1 | 0.2% | + 0.0% | 28 | 107 | 1.3% | + 463.2% | 16 | 36 |
Iceland September 2024 – models:
| Pos | Model | Sep-24 | % | Aug | 2024 | % | /23 | Pos | FY23 |
| 1 | Hyundai Ioniq 5 | 44 | 7.9% | n/a | 76 | 0.9% | –39.2% | 27 | 22 |
| 2 | Tesla Model 3 | 33 | 5.9% | 13 | 77 | 0.9% | – 45.0% | 26 | 14 |
| 3 | Toyota RAV4 | 31 | 5.5% | 2 | 327 | 4.0% | – 41.4% | 3 | 4 |
| 4 | Tesla Model Y | 19 | 3.4% | 1 | 269 | 3.3% | – 86.7% | 4 | 1 |
| 5 | Kia Niro | 17 | 3.0% | 17 | 81 | 1.0% | – 62.5% | 23 | 10 |
| 6 | Ford Explorer | 14 | 2.5% | n/a | 17 | 0.2% | – 15.0% | 93 | n/a |
| 7 | Kia EV6 | 13 | 2.3% | 12 | 59 | 0.7% | – 60.9% | 34 | 16 |
| 8 | Hyundai Kona | 12 | 2.1% | n/a | 49 | 0.6% | – 58.1% | 45 | 15 |
| 9 | Kia Sportage | 12 | 2.1% | 18 | 364 | 4.4% | – 19.8% | 2 | 6 |
| 10 | Kia Sorento | 11 | 2.0% | 8 | 188 | 2.3% | + 18.2% | 8 | 18 |
| 11 | Land Rover Defender | 11 | 2.0% | 19 | 130 | 1.6% | – 14.5% | 15 | 21 |
| 12 | Mazda CX-5 | 11 | 2.0% | n/a | 58 | 0.7% | – 51.7% | 36 | 32 |
| 13 | Mazda2 | 11 | 2.0% | n/a | 79 | 1.0% | – 21.8% | 24 | 42 |
| 14 | Skoda Octavia | 11 | 2.0% | 20 | 174 | 2.1% | + 270.2% | 11 | 64 |
| 15 | Hyundai Tucson | 10 | 1.8% | 7 | 224 | 2.7% | + 52.4% | 7 | 20 |
| 16 | Skoda Kodiaq | 9 | 1.6% | 9 | 127 | 1.5% | + 15.5% | 16 | 34 |
| 17 | Toyota Yaris | 9 | 1.6% | 5 | 186 | 2.3% | – 59.0% | 9 | 7 |
| 18 | Audi Q4 | 8 | 1.4% | n/a | 26 | 0.3% | – 44.7% | 67 | 48 |
| 19 | Toyota C-HR | 8 | 1.4% | n/a | 77 | 0.9% | + 45.3% | 25 | n/a |
| 20 | BYD Seal U | 7 | 1.3% | n/a | 35 | 0.4% | new | 58 | – |
| 21 | Ora Funky Cat | 7 | 1.3% | n/a | 11 | 0.1% | + 10.0% | 116 | n/a |
| 22 | Toyota Corolla | 7 | 1.3% | 21 | 91 | 1.1% | – 61.3% | 21 | 12 |
| 23 | Toyota Highlander | 7 | 1.3% | n/a | 45 | 0.5% | + 4.7% | 47 | n/a |
| 24 | Toyota Land Cruiser Prado | 7 | 1.3% | 6 | 155 | 1.9% | – 66.1% | 13 | 5 |
| 25 | Volvo EX30 | 7 | 1.3% | 3 | 65 | 0.8% | new | 32 | – |