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12° Nicosia,
20 June, 2024
 

Stellantis Group shifts gears in Cyprus, hands dealerships to CIC Automasters

Major move creates buzz with new showrooms and emphasizes shift towards electric vehicles in the Cypriot market.

Newsroom

In a significant development for Stellantis Group's car dealerships in Cyprus, the renowned global car manufacturer is set to transfer operations to CIC Automasters Group. The finalized deal is slated to officially take effect on January 1, marking the creation of two new showrooms in Nicosia and Limassol.

The transfer includes prominent brands such as Peugeot and Opel, complementing CIC Automasters' existing portfolio, which already encompasses other Stellantis brands like Alfa Romeo, Fiat, and Jeep. This strategic move is expected to introduce new dynamics and adjustments to the Cypriot automotive market, especially considering the industry's swift shift toward electrification. Stellantis, a key player in this arena, particularly with the Peugeot brand, is also gearing up for an online presence in Cyprus through a dedicated website.

Stellantis' decision to reallocate operations aligns with a revamped sales model and adjustments to prior dealer contracts across Europe. The company initially outlined its intentions in early September. Notably, Stellantis Group stands as the world's third-largest car manufacturer and the second-largest seller in Europe, reinforcing the significance of this transition in the automotive landscape.

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Cyprus  |  business  |  economy

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