Significant 24.4% of annual new vehicle registrations increase in Q1 2023

07:58 - 11 July 2023

Economy Reporter

A significant increase of 24.4% was recorded in vehicle registrations in the first half of 2023, compared to the same period in 2022, while an increase of 22.4% was recorded in June 2023, compared to the same month last year.

According to CyStat, in June 2023, total motor vehicle registrations reached 4,094, an increase of 22.4% compared to 3,344 in June 2022. Saloon passenger car registrations increased by 22.3% to 3,166 from 2,588 in June 2022.

Moreover, the total number of registered vehicles increased by 24.4% in the January-June 2023 period to 22,021, compared to 17,697 in the same period in 2022. New vehicles increased by 21.6%, compared to the same period last year, to 10,529, while used vehicles increased by 27.2%, to 11,492.

According to the Statistical Service, saloon passenger car registrations increased by 24.8% in the January-June 2023 period to 17,600, compared to 14,101 in the same period in 2022. Of the total passenger car saloon registrations, 7,569 or 43.0% were new and 10,031 or 57.0% were used cars.

Rental cars in particular saw a 28.8% increase to 3,164, while bus registrations increased to 189 in the January-June 2023 period, up from 47 in the same period in 2022.

Also, registrations of cargo vehicles increased to 2,113 in the January-June 2023 period, up 10.8% from 1,907 in the same period in 2022.

As stated, light trucks increased by 7.1% to 1,651, heavy trucks by 38.3% to 260, road tractors (trailers) by 52.5% to 61 and rental vehicles by 2.9% to 141.

Moped registrations under 50 cc decreased to 112 in the January-June 2023 period, compared to 150 in the same period in 2022.

Motorcycle registrations over 50 cc increased 32.8% to 1,747 in the January-June 2023 period, compared to 1,316 in the same period in 2022.

(Source: CNA)

Significant 24.4% of annual new vehicle registrations increase in Q1 2023

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