Iceland Full Year 2023: Tesla Model Y smashes annual volume record, holds 18.6% share

The Tesla Model Y peaked at 46% share in November

Discover 20 years of Icelandic Historical Data here.

The Icelandic new car market is up 5.2% year-on-year in 2023 to 17,542 sales. Tesla (+181.7%) leaps from the 4th place in 2022 to #1 brand in 2023 with 20.2% share. Toyota (+8.9%) is knocked down to #2 despite improving its share from 16.5% to 17.1%. Kia (+10.2%) is down to #3 with 11.2% of the market, ahead of Dacia (+41.2%) and Volkswagen (+38.1%) both in great shape. Hyundai (-37.5%) is in trouble and drops three spots to #6 with Volvo (-8.6%) also in a bad spot at #7. Strikingly, Mazda (+59.9%), up 12 spots to #8, is the only additional gainer in the Top 13. Below, Renault (+61.1%), Audi (+16.6%) and Subaru (+152.8%) stand out.   

Model-wise, at over 3,250 sales the Tesla Model Y (+217.6%) smashes the annual volume record for any model in Icelandic history which was previously held by the Toyota Corolla in 1988 with just over 1,200 sales. Even better: the Model Y beat that record as early as June this year. The Model Y holds a mammoth 18.6% of the market this year and even peaked at a surreal 46% share in November. Far below is the Dacia Duster (+19.1%) up three spots to #2. The Toyota bZ4X (+3284.2%) ends its first full year of sales at #2 with 3.7% share but peaked at 21.4% share in December. It scores its best ranking in the world in Iceland. The Toyota RAV4 (-24.6%) and Land Cruiser Prado (-32.1%) struggle and round out the Top 5.

Previous year: Iceland 2022: Tesla Model Y takes charge of euphoric market (+30.4%) (with 2021 figures)

Full December 2023 Top 32 All brands and Top 20 models below.

Full Year 2023 Top XX All brands and Top 50 models vs. Full Year 2022 figures below.