The car brands that buyers in Cyprus prefer

The car market is still going strong, with passenger saloon car registrations reaching 24,126 in the first seven months of 2024, compared to 21,178 in the corresponding period last year, registering an increase of 13.9%.

The percentage of used cars decreased marginally, which, however, still make up the majority with 13,975 registrations or 57.9%, compared to new ones, which count 10,151 registrations or 42.1%.

Electric vehicles may have registered a small increase, reaching from 2.5% in the first seven months of 2023 to 3.2% in the first seven months of 2024, however, their market penetration remains extremely low. In contrast, hybrids jumped from 27.8% in the January-July 2023 period to 36.85% in the January-July 2024 period, with registrations reaching 9,000.

Total passenger saloon car market

Registrations of passenger saloon cars amounted to 24,126 in the period of January – July 2024, of which 21,279 were private passenger saloons.

Toyota's lead in the overall saloon passenger car market seems undisputed, with 4,158 registrations in the first seven months of 2024.

They are followed by Mazda (2,770), Nissan (2,330) and Kia (1,727), with Mercedes (1,367) completing the top five.

The overall passenger saloon market list also includes brands such as BMW (1,264), Volkswagen (1,210), Hyundai (985), Honda (598) and Land Rover (544).

New passenger saloon cars

An estimated 42% of passenger saloon cars registered in the first seven months of 2024 were new models, with registrations reaching 10,151, of which 9,148 were for private cars.

At the top of new passenger saloons is Kia, with 1,651 registrations, followed by Nissan (1,087), Volkswagen (975), Hyundai (922) and Toyota (912).

The top ten include brands such as BMW (489), Mercedes (387), Audi (323), Skoda (246) and Renault (219).

Used passenger saloon cars
Almost six in ten passenger saloon cars registered in the first seven months of the year were used cars, with registrations reaching 14,000, of which 12,131 were for private cars.

Toyota maintains the lead, with 3,246 registrations, followed by Mazda (2,691), Nissan (1,243), Mercedes (980) and BMW (775) complete the top five.

Also on the list are popular brands such as Honda (511), Land Rover (330), Suzuki (281), Volkswagen (235) and Lexus (207).

(Source: InBusinessNews)