The main dealerships in Iceland are trying to send new cars that were imported back to their suppliers in Europe and Asia in light of decreasing domestic car sales. Auto dealer Ingvar Helgason is waiting for a reply on how many cars can be sent back.
“We are trying to get permission to send back a considerable amount of cars, but that isn’t easy,” Loftur Magnússon, marketing director at Ingvar Helgason told 24 Stundir.
“We would be happy to get rid of as many cars as possible; it would probably be cheapest for everyone in the end, but suppliers in general cannot accept all the cars we would like to send back,” Magnússon added.
“These are cars that we expected to sell considering the recent economic situation of the car market, […] now we are looking at an extensive recession in the sale of new cars,” Magnússon said.
New registrations of cars decreased by 0.6 percent in the first 130 days of 2008 compared to the same period last year. But in the first 53 days of this year, new registrations for vehicles had increased by 46.8 percent compared to the same period in 2007.
Click here to read more about recent boom in auto sales in Iceland.