Great surge in new cars in Cyprus

Vehicle registrations in Cyprus increased by 45% in January-February 2024, according to the Statistical Service of Cyprus (CyStat) report “Registration of Motor Vehicles” for the year’s first two months.

In February 2024 alone, total registrations of motor vehicles reached 4,346, marking an impressive increase of 55.5% compared to the same month in 2023, which recorded 2,795 registrations. Notably, passenger saloon cars experienced a substantial rise of 50.5%, reaching 3,443 registrations, compared to 2,287 in February 2023.

Total vehicle registrations surged to 8,589 in January-February, from 5,923 in January-February 2023.

Passenger saloon cars saw a significant increase to 6,873 registrations from 4,780 in January-February 2023, marking a rise of 43.8%. Among those, 44.1% were new cars (3,028) while 55.9% were used cars (3,845). Rental cars, however, saw a decrease of 5.6%, totaling 506 registrations.

The share of gasoline-powered passenger cars decreased to 50.3%, from 58.4% last year, while diesel-powered cars dropped to 10.3% from 11.4%. Conversely, electric cars’ share rose from 2.6% to 3.1%, and hybrid cars surged from 27.6% to 36.3%.