Vehicle registrations in Cyprus rise by 19.2 per cent in first half of 2024

The Cyprus Statistical Service (Cystat) announced on Monday that the total number of vehicle registrations from January to June 2024 increased by 19.2 per cent, reaching 26,250.

This represents a significant rise from the 22,021 vehicles registered during the same period in 2023.

Focusing on saloon passenger cars, there’s been an increase of 17.2 per cent in registrations, rising to 20,623 from 17,600 in 2023. Of these, 8,791, or 42.6 per cent, were new vehicles, while 11,832, or 57.4 per cent, were used.

However, rental cars bucked the trend with a notable decline of 27.4 per cent, totalling just 2,296 registrations.

In terms of fuel types, the landscape is shifting. The proportion of gasoline-powered saloon cars fell to 49.5 per cent, down from 59.9 per cent last year. Diesel-powered cars also saw a slight decrease from 10.5 per cent to 10 per cent.

On the other hand, electric vehicles and hybrids are gaining ground, with their shares increasing from 2.2 per cent to 3.3 per cent and from 27.3 per cent to 37.2 per cent, respectively.

The data also highlights changes in other vehicle categories. Bus registrations plummeted by more than half, down from 189 in 2023 to just 87.

In contrast, freight vehicle registrations surged by 40.8 per cent to 2,975, driven by strong gains across various types of trucks.

Light trucks up by 43.5 per cent to 2,369, heavy trucks by 31.2 per cent to 341, and road tractors (trailers) by an impressive 88.5 per cent to 115. Rental vehicles also enjoyed a modest rise of 6.4 per cent, reaching 150.

Furthermore, moped registrations showed significant growth, with registrations under 50cc rising from 112 to 399.

Meanwhile, registrations of large-capacity motorcycles edged up by 3 per cent, reaching 1,800 compared to 1,747 in the previous year.

In a closer look at June 2024 alone, total motor vehicle registrations increased by 6.7 per cent to 4,369, from 4,094 in June 2023.

Finally, saloon passenger car registrations for the month reflected this upward trend with an 8.9 per cent rise to 3,447 from 3,166 in June last year.