Cyprus motor registrations up 33.1% in 2007

Motor registrations in Cyprus rose by 33.1% in 2007 as a result of a sharp cut in excuse duties in late 2006, in which the prices of saloon cars fell by up to 40%.

This came only three years after another tax-induced boom in 2004.

The Statistical Service Cystat said that the main developments were as follows.

The total number of motor vehicles registered during 2007 increased by 33.1% to 64,405 from 48,387 in 2006. Of these, 34,069 were new vehicles and 30,336 were used vehicles.

Private saloon cars increased by 37.1% in 2007 to 48,133 from 35,110 in 2006.

Used private saloon cars registered in 2007, reached 25,255 or 52.5% of saloon cars registrations, while new private saloon cars registrations were 22,878 or 47.5%.

Self-drive cars registrations increased by 26.3% to 2,520 in 2007 compared to 1,995 in 2006.

Goods conveyance vehicles increased by 26.2% to 7,149 in 2007, compared to 5,665 in 2006. Light goods vehicles increased by 30.9% to 5,475, from 4,181 in 2006.  Heavy goods vehicles increased by 12.8% to 1,674 in 2007 from 1,484 in 2006.

Mechanised cycles registrations increased by 17.0% to 5,457 in 2007 from 4,664 in 2006.

European Union Countries were the main suppliers of motor vehicles to Cyprus in 2007. The EU accounted for 56.2% of total vehicle registrations, while Japan’s share fell to 31.1%.

Before Cyprus joined the EU, Japan tended to be the main supplier of cars.

The Statistical Service did not say which EU brands were the most popular but judging by the number of nearly new silver Mercedes C class cars suddenly to be seen on the streets on Nicosia, the strongest increase may well have been in this brand.