Vehicle registrations down November, up for the the eleven month period

Motor vehicle registrations in Cyprus dropped in November 2024, with total registrations falling 3.7% to 3,850, down from 3,997 in November 2023, according to data released by CySTAT.  

Passenger saloon cars were hit hardest, dropping 10  % to 2,920 from 3,243 during the same month last year.

Despite the November dip, from January to November 2024, total motor vehicle registrations climbed 10.1% year-on-year, reaching 46,780 compared to 42,500 in 2023. Passenger saloon cars drove much of this growth, rising 6.5% to 36,360. Used cars accounted for 60.5% of registrations, while new cars made up the remaining 39.5%. Notably, rental car registrations within this category dropped nearly 30%, falling to 3,789.

Electric and hybrid cars on the rise

In January-November 2024 a shift in consumer preferences toward greener technologies was evident, with electric and hybrid vehicles gaining market share. Electric cars accounted for 4.0% of passenger car registrations during the first 11 months of 2024, up from 2.7% in the same period in 2023. Hybrid vehicles also increased, representing 36.9% of registrations compared to 28.9% a year earlier. In contrast, petrol-powered cars saw their share fall to 48.9%, down from 58.2%, while diesel cars slipped marginally to 10.1% from 10.2% last year.

Motor coaches and buses registered in January-November 2024 decreased to 127, from 306 in the same period of 2023.

Goods transport vehicles grew by 30.6%, while light goods vehicles rose 33.7% to 4,277 registrations. Heavy goods vehicles and road tractors saw significant gains as well, increasing by 25.9% and 54.2%, respectively. However, rental vehicles in this segment declined by 12%.

Mopeds under 50cc more than doubled their registrations year-on-year, reaching 657 by November 2024. Larger motorcycles saw a 16.1% increase, totaling 3,657 registrations.

(Source: CNA)