Vehicle registrations surge by 45% in January-February 2024

Vehicle registrations surge by 45% in January-February 2024

Vehicle registrations increased by 45.0% in January-February 2024, according to the CySTAT report ‘Registration of Motor Vehicles’ for the period January-February 2024.

In the meantime, the share of electric vehicles has reached 3.1% and of hybrid cars 36.3%. 

In February 2024 alone, the total registrations of motor vehicles reached 4,346, marking an impressive increase of 55.5% compared to the same month in 2023, which recorded 2,795 registrations. Notably, passenger saloon cars experienced a substantial rise of 50.5%, reaching 3,443 registrations, compared to 2,287 in February 2023.

Total vehicle registrations surged by 45.0% to 8,589 in January-February 2024, from 5,923 in January-February 2023.

Passenger saloon cars saw a significant increase to 6,873 registrations from 4,780 in January-February 2023, marking a rise of 43.8%. Among these, 44.1% were new cars (3,028) while 55.9% were used cars (3,845). Rental cars, however, experienced a decrease of 5.6%, totaling 506 registrations.

The share of petrol-powered passenger cars decreased to 50.3% in January-February 2024 from 58.4% in the same period of the preceding year, while diesel-powered cars dropped to 10.3% from 11.4%. Conversely, electric cars’ share rose from 2.6% to 3.1%, and hybrid cars surged from 27.6% to 36.3%.

Motor coaches and buses saw a substantial increase, rising to 59 registrations in January-February 2024 from 15 in the corresponding period of 2023.

Goods conveyance vehicles witnessed a notable uptick of 58.4%, with a total of 966 registrations in January-February 2024 compared to 610 in January-February 2023. This included a 62.8% increase in light goods vehicles, an 18.6% increase in heavy goods vehicles, a 57.1% increase in road tractors, and a doubling of rental vehicles to 66.

Mopeds < 50cc registrations surged to 92 in January-February 2024 from 21 in the same period of the previous year.

Motorcycles > 50cc experienced a 21.3% increase, reaching 484 registrations in January-February 2024 compared to 399 in the same period of 2023.

(Source: CNA)

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