Hybrid vehicles claim 36.9 per cent of new cars
Motor vehicle registrations in Cyprus rose by 10.1 per cent from January to November 2024, with the growing popularity of electric and hybrid vehicles driving the market shift.
According to the statistical service, electric car registrations increased to 4 per cent, while hybrids surged to 36.9 per cent, reflecting changing consumer preferences.
A total of 46,780 motor vehicles were registered during this timeframe, up from 42,500 in the previous year.
However, November 2024 alone saw a slight decline, with total registrations falling by 3.7 per cent to 3,850 from 3,997 in November 2023.
Passenger saloon car registrations in particular dropped by 10 per cent to 2,920, compared to 3,243 in November 2023.
From January to November 2024, passenger saloon car registrations rose by 6.5 per cent to 36,360, up from 34,140 in the same period the previous year.
Of these, 39.5 per cent, or 14,380 vehicles, were new, while 60.5 per cent, or 21,980 vehicles, were used.
Despite this increase, rental car registrations experienced a notable decline, falling by 29.7 per cent to 3,789.
There was a marked shift in consumer preferences regarding fuel types. Petrol-powered cars accounted for 48.9 per cent of passenger vehicles, down from 58.2 per cent in 2023.
Diesel vehicles maintained a relatively stable share at 10.1 per cent, down slightly from 10.2 per cent.
Electric vehicles gained traction, rising from 2.7 per cent in 2023 to 4.0 per cent in 2024, while hybrid vehicles saw a surge, growing from 28.9 per cent to 36.9 per cent.
Registrations of goods conveyance vehicles grew significantly, increasing by 30.6 per cent to 5,355.
Within this category, light goods vehicles rose by 33.7 per cent to 4,277, heavy goods vehicles by 25.9 per cent to 628, and road tractors for trailers by an impressive 54.2 per cent to 222.
However, rental vehicles in this segment declined by 12.0 per cent to 228.
Two-wheeler registrations also increased. Mopeds with engine capacities lower than 50cc saw a 115.7 per cent rise to 657, while mechanised cycles exceeding 50cc grew by 16.1 per cent to 3,657.
In contrast to these upward trends, motor coaches and buses experienced a sharp decline, with registrations dropping from 306 in 2023 to 127 in 2024.
