Cyprus motor vehicle regs rise

Cyprus motor vehicle registrations recorded their first rise for three months in May, rising by 1.8% compared with May 2004, to 4,490. Passenger vehicles continued to decline, however, falling by 3.9% year on year to 3097.

Much of the growth, therefore, came from light goods vehicles, which rose by 19.8% year on year to 339.

Motor vehicle registrations leapt by 33.9% in 2004 as a result of lower in excuse duties imposed in November 2003, which had the effect of cutting the prices of saloon models by as much as 20%.