The top four aren't affected too much with BMW enjoying its fourth year at the top, but below it gets more variable. Fifth to eighth all had more than useful gains with others below well up or down. It shows that while increases are not that common at the moment, it's either taking longer for individual brands to find their level or when stock was constrained, people learned to be less brand loyal.
Data source: FEBIAC.
Passenger car registrations are well down for 2024 in Iceland. They were -46% YTD but only -16% for April. In such an environment, there are usually drastic changes in fortunes. In addition, being a small volume market, a shipment of vehicles can change things quickly.
A case in point is shown with Dacia and Hyundai. Combined, they took a third of the total sales in April. That pushed them to the top of the ladder. Toyota is a long time leader here but a rampant Tesla knocked it off its perch in 2023. It's now third but there is plenty of time to remedy that anomaly.
The data below is for market share change in comparison with total registrations in 2023. Tesla has lost 80% of its share when sales are already down a half! Maybe there's a boat coming soon ladened with cars. It's surprising to see Land Rover so high in any market but it does seem to have strong starts to the year here.
Data source: Samgongustofa.
The global car markets had been underserviced by stock for some time with COVID and supply issues so pent up demand meant that production was strong. That seems to have been sated and volume is slipping. Prices hav also been climbing as demand exceeded supply. Are prices now going to soften to keep factories busy?
