Cyprus car registrations boom in the first quarter

Total registrations of motor vehicles increased by 31.7% in the first quarter of 2007 to 16,325, compared with 12,395 vehicles in the same period of 2006.

The boom has come as a result of wide-ranging cuts on all car duties implemented in late 2006.

The government’s cut in excise duties was prompted by the need to cut import taxes on second hand cars after the European Commission said that the high duties on second hand cars were unjustified.

Registrations of private saloon cars increased by 31.6% to 12,262, from 9,316 in January-March 2006.

Of the total number of private saloon cars, 5,902 vehicles or 48.1% were new and 6,360 vehicles or 51.9% were used cars.

Goods conveyance vehicles increased by 26.8% to 1,859 in 2007, compared to 1,466 in 2006. Light goods vehicles increased by 28.1% to 1,449, from 1,131 in 2006.

Heavy goods vehicles increased by 22.4% to 410 in January-March 2007, from 335 in 2006.

Mechanised cycles increased by 24.3% to 941 in 2007, compared to 757 in January-March 2006.