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Iceland 2020. Car market starts recovering in September (-14.9%) while Skoda plummets 66.2%

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5 Tips to Avoid Trucking Accidents
Tuesday December 15, 2020

As a driver, you must have experienced that nerve-wracking moment where you had to pass an 18-wheeler truck on the freeway. Commercial trucks can be frightening, not only due to their sheer size and weight, but also because of their susceptibility to fatal accidents. For this reason, motorists have the responsibility of driving carefully around […]

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Turkmenistan 2020. Vehicles market decimated (-89.6%) albeit no infections are reported in the country
Thursday March 25, 2021

Turkmenistan vehicles market falls despite being one of the few countries in the world with 0 reported COVID-19 cases. Indeed, Full Year 2020 sales have been 600, down 89.6% compared to 2019. The top 3 brands keep gaining market share, now reaching a cumulative 63%. Economic Environment After a probable contraction in Q2 as the […]

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Icelandic cars market in September of 2020 recovers after previous month’s heavy drop. Indeed, in September sales have been 1.125, down only 14.9%. The market leader was still Toyota, but Tesla is quickly catching up. Skoda reported the worst top 10 performance, losing 66.2%.
Economic Environment
The economy shrank at a historic 9.3% rate in the second quarter, following the first quarter’s softer drop, according to preliminary data. The fallout was a direct consequence of the pandemic, and the global trade disruptions and travel restrictions that followed.
Turning to Q3, available data shows a recovery could be underway: Overnight stays continued to fall in August compared to the same period last year, although at a much slower pace than in June and July, reflecting the shorter mandatory quarantine period in place since mid-August in favor of tests for new arrivals.
Similarly, exports declined at a slower pace in August than in July. However, the unemployment rate rose in August after slowly decreasing since April’s peak, boding ill for private consumption ahead.
Market Trend Year in September
In Iceland 1.125 units have been sold in September 2020, a loss of “only” 14.9%, a great recovery compared to the previous month (-56.6%), leading Year to Date sales at 7.380 units (-41.2%).
Brand-wise, Toyota remains the leader, even with a loss of 48.9%, followed by Tesla, which sold almost triple the units of the leader in September. The top 10 worst performance was registered by Skoda, losing 66.2%.
Medium Terms Market Trend
The automotive industry has been on a positive track from 2014 to 2017m when it hit the highest volume since 2009. However, in 2018 the market suffered a hard drop of 15.7%  and car passenger’s sales have been 17.871, much less than the previous year’s 21.204.
In 2019, According to data released by the Minister of Transportation, the market trend even worsened. Indeed, Total sales have been 13.065 (-26.9%).
Despite having lost over 6 points of share in the last 10 years, the market leader in 2019 was again Toyota with 16.4% of share, still holding a wide gap from Kia and Volkswagen, respectively with 11.4% and 7.5%.
In Q1 2020 the market was hit by the COVID-19 pandemic, thus only 2.445 units were sold, a 45.9% decrease compared to last year. Subsequently, the First Half figures were 4.842 units with a loss of 43.5%.
In July 831 units were sold, a 37% decrease compared to last year, then in August the situation got worse, with only 582 units sold (-56.6%).
Tables with sales figures
In the tables below we report sales for all Brands, top 10 Manufacturers Group and top 10 Models.

Bermuda 2020. Kia’s leadership is reinforced in a market still down 27.8%
Friday November 13, 2020

Bermuda vehicles market in 2020 is still recovering slowly from the drop experienced in Q2 and July. Indeed, in September 102 units were sold (-14.3%), leading Year to Date sales at 773 units (-27.8%). Kia holds 27.3% share, followed in the distance by Toyota (15.9%). Economic Environment As with most islands, the major turning point […]

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