High turnover and increased turnover for car and motorcycle service and parts

Marios Ioannou 12:27 - 30 December 2024

Economy Reporter

The value of turnover for maintenance, repair and sale of parts for both motor vehicles and motorcycles remains on an upward trajectory.

According to data from CySTAT, the Turnover Value Index of Trade and Repair of Motor Vehicles increased in the period July-September 2024 by 1.6% compared to the corresponding quarter of 2023.

The only sector that recorded an annual decline (3.6%) was the sale of motor vehicles.

On the contrary, the value of the sale, maintenance and repair of motorcycles and their parts and accessories increased by 14.4%, while the value of turnover in the sale of parts and accessories of motor vehicles increased by 10.5%.

Moreover, the maintenance and repair of motor vehicles remained on a steady upward trend, with the turnover value index recording an annual increase of 7.4% in the third quarter of 2024.

What was the movement in wholesale trade?

The wholesale trade turnover value index in the third quarter of 2024 increased by 4.6% compared to the corresponding quarter of 2023.

A significant decline was recorded on the one hand in wholesale trade on a fee or contract basis (-35.7%) and on the other hand in wholesale trade of raw agricultural raw materials and live animals (-17.6%).

On the other hand, the largest increase in turnover value was recorded in wholesale trade of household goods (17.2%), with wholesale trade of other machinery, equipment and supplies (7.1%) and wholesale trade of food, beverages and tobacco (6.1%) following.

Non-specialised wholesale trade (3.6%) and wholesale trade of information and communication systems equipment (3%) also moved upwards.

(Source: InBusinessNews)

High turnover and increased turnover for car and motorcycle service and parts

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