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Motor vehicle registrations down an annual 4.3% in January

February 8, 2019 at 3:12pm
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The total registration of motor vehicles in January fell by 4.3% to 3,947 compared to 4,123 in January the previous year, the Cyprus Statistical Service said on Friday.

It said registrations of passenger saloon cars fell by 6.4% to 3,257, from 3,481 in January 2018. Of the 3,257 motor vehicles registered 1,378 were new and 2,569 were second hand.

Disy leader Averoff Neophytou told parliament recently that the car market had slowed as prospective buyers await a decision on consumer tax. January’s drop comes on the back of a good year for the motor vehicle sector. Overall, 49,450 vehicles were registered in 2018 of which 17,469 were new and 31,981 second hand.  This was a 13.31% annual increase on 2017.

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