January car sales plunge 21%

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Motor vehicle sales began the new year with a sharp annual decline as total registrations in January dipped 23.3% to 2,633, the Cyprus Statistical Service said.

Passenger saloon cars, which represent the bulk of the motor vehicles sales, dropped to 2,147 from 2,732 in January 2021, recording a fall of 21.4% year on year.

Of the total passenger saloon cars sold, 1,111 or 51.7% were new, and 1,036 or 48.3% were used.

Furthermore, goods conveyance vehicles decreased by 26.9% to 280 in January 2022, compared to 383 last year.

Scooters sales (motorcycles with engines under 50cc) were just 5 in January compared with 14 in the same month of last year.

Motorcycles (with engines over 50cc) fell by 32.6% to 174 compared to 258 in January 2021.

Vehicle registrations decreased by 11.8% in 2021 to 34,716 from 39,367 the year before, and under 40% of saloon cars sold were new.

The annual drop in registrations was a steeper 38.6% for December alone.

Total registrations of vehicles were 2,018, recording a decrease of 38.6% compared to December 2020.

Last year, passenger saloon cars decreased 12.8% to 26,634 from 30,554 in 2020.

Out of the total number of passenger saloon cars, 10,611 (39.8%) were new, and 16,023 (60.2%) were used.