Car dealerships face 95-98% contraction

The car dealerships in Iceland are facing a contraction of 95-98% on the previous year. 

Kaupthing bank has taken over the operation of Hekla which carries Volkswagen, Skoda and Audi. Two other companies are merging, those with the dealership rights to Subaru, Nissan, Opel, Saab, BMW, Renault, Landrover and Hyundai. 

More than 200 jobs are at risk in the current situation.

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