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25 June, 2024
 
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Cyprus revs up its new car registrations

Get behind the wheel of the latest trend and explore the dramatic shifts in Cyprus' automotive landscape

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The Cyprus Statistical Service's latest report reveals a significant surge in motor vehicle registrations, marking a 33.5% increase to 17,589 in January-April 2024, compared to 13,180 in the same period of 2023.

Passenger saloon cars notably rose by 31.3% to 13,851 from 10,546 in January-April 2023. Among these, 43.8% were new acquisitions, while 56.2% were used vehicles. Conversely, rental car registrations saw a decline of 18.5% to 1,399.

The distribution of fuel types witnessed a notable shift, with petrol-powered cars decreasing to 48.9% in 2024 from 60.1% in 2023, while diesel cars declined to 10% from 11%. Meanwhile, electric car registrations rose to 3.6% in 2024 from 2.3% in 2023, and hybrid cars surged to 37.4% from 26.6%.

Moreover, motor coaches and buses increased to 78 from 68 in the same period of 2023, and goods conveyance vehicles spiked by 47.4% to 1,963 in January-April 2024. Light goods vehicles saw a 48.5% increase, heavy goods vehicles rose by 40%, and road tractors surged by 91.9%.

Mopeds under 50cc saw a substantial increase to 364 compared to 35 in the previous year, while mechanized cycles over 50cc rose by 6.6% to 1,099 in January-April 2024.

In April 2024 alone, motor vehicle registrations reached 4,762, marking a remarkable 59.4% increase compared to 2,987 in April 2023. Notably, passenger saloon cars witnessed a surge of 60.5% to 3,662 registrations, up from 2,282 in April 2023.

[Source: CNA]

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Cyprus  |  economy

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