Vehicle registrations in Cyprus increase by 16.6 per cent in first 7 months of 2024

The total number of registered vehicles in Cyprus between January and July 2024 increased by 16.6 per cent, when compared to the same period in 2023, according to a report released this week by the Cyprus Statistical Service (Cystat).

According to the report, in July 2024 alone, total motor vehicle registrations reached 4,614, marking a 3.9 per cent rise from the 4,441 recorded in July 2023.

However, registrations of passenger saloon cars saw a slight decrease of 2.1 per cent, dropping to 3,503 from 3,578 in July 2023.

Overall, the total number of registered vehicles reached 30,864 in the first seven months of 2024, compared to 26,462 during the same period in 2023.

What is more, registrations of passenger saloon cars rose by 13.9 per cent, totalling 24,126, compared to 21,178 in the corresponding period of 2023.

Of these saloon cars, 10,151 vehicles, a share of 42.1 per cent, were new, while 13,975, a share of 57.9 per cent, were used cars.

In addition, the number of rental cars registered during the applicable period fell by 32 per cent to 2,694.

Moreover, the share of petrol-powered saloon cars in this category declined to 50 per cent in the January to July 2024 period, down from 59.5 per cent in the same period of 2023.

Similarly, diesel-powered vehicles saw a slight decrease in market share from 10.2 per cent in 2023 to 10.0 per cent in 2024.

Conversely, the share of electric vehicles rose from 2.5 per cent in 2023 to 3.2 per cent in 2024, while hybrid vehicles saw an increase from 27.8 per cent to 36.8 per cent.

Bus registrations dropped to 99 in the January to July 2024 period, down from 211 in the same period of 2023.

Meanwhile, the registration of freight vehicles surged by 40.2 per cent to 3,523, compared to 2,512 in the corresponding period of 2023.

Specifically, light trucks saw a 43.5 per cent increase to 2,805, heavy trucks grew by 34.2 per cent to 412, and road tractors (trailers) skyrocketed by 89.2 per cent to 140.

In contrast, rental vehicle registrations decreased by 5.7 per cent to 166.

Registrations of mopeds under 50cc increased significantly to 480 in the January to July 2024 period, compared to just 162 in the same period of 2023.

Finally, motorcycle registrations over 50cc rose by 6.1 per cent, reaching 2,218, up from 2,090 during the same period of the previous year.