Icelandic Car Dealership Turns to Foreign Markets Skip to content

Icelandic Car Dealership Turns to Foreign Markets

In response to plummeting car sales in Iceland and increased interest abroad, Icelandic car dealership Hekla is targeting foreign markets with an online dealership for used cars in English, nordiccarsale.is.

“Understandably, there is not much going on in domestic sales at the moment,” Sverrir Hauksson, managing director of Hekla’s automobile division, told Morgunbladid.

Hauksson said he had decided to open the online dealership after discussions of canceling or lowering excise tax or VAT (value added tax) on vehicles for export in light of the fact that thousands of cars are “stuck” in Iceland in an almost frozen market.

“The Icelandic Federation for Motor Trades and Repairs has emphasized this, but to the best of my knowledge, these plans are still unconfirmed by the Ministry of Finance,” Hauksson said.

Hauksson is confident however that either the excise tax or the VAT will be canceled and the opening of the webstore is part of the company’s preparation for increased overseas sales. “While the foreign exchange listing is the way it is, it is very beneficial for foreigners to buy cars in Iceland.”

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