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The car market is booming in 2024… The shares of electric and hybrid, new and used

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<p data-block-key=A decrease of 9.6% was recorded in May 2024 by the total registrations of motor vehicles and reached 4,292, compared to 4,747 in May 2023, according to the Statistical Service, while a significant increase of over 22% was recorded in the first five months of 2024, in compared to the corresponding period last year.

Passenger saloon car registrations fell by 14.5% to 3,325, from 3,888 in May 2023.

In relation to the period January-May 2024, compared to the corresponding period in 2023, according to the Statistical Service, the total number of registered vehicles increased by 22.1% and reached 21,881, compared to 17,927 in the same period of 2023. The share of electric vehicles rose to 3.4% in 2024 and to 37.3% of hybrids.

Passenger saloon car registrations increased by 19.0% to 17,176, compared to 14,434 in the corresponding period in 2023. Of the total passenger saloon cars, 7,374 or 42.9% were new and 9,802 or 57.1% were used cars.

The number of rental cars in particular showed a decrease of 29.4% to 1,860, while the share of gasoline-powered saloon cars in the total of this vehicle category decreased in the period January-May 2024 to 49.3% (from 60.8% in the corresponding period of 2023), as was the share of diesel engines (from 10.6% in 2023 to 10.0% in 2024).

< p data-block-key="1f6l5">On the contrary, the share of electric vehicles (from 2.1% in 2023 to 3.4% in 2024) and hybrids (from 26.6% to 37.3%) increased.

Bus registrations fell to 83 in January-May 2024, from 115 in the same period in 2023, while freight vehicle registrations increased to 2,471 in January-May 2024, compared to 1,733 in the same period of 2023, an increase of 42.6%.

Specifically, according to the Statistical Service, light trucks increased by 46.1% to 1,955, heavy trucks by 35.3% at 291, road tractors (trailers) by 70.4% at 92 and rental vehicles by 5.6% at 133.

The registrations of mopeds < 50km increased to 381 in January-May 2024, compared to 61 in the same period in 2023.

Motorcycle registrations > 50cm increased by 7.7% to 1,479 in January-May 2024, compared to 1,373 in the same period in 2023.

Source: reporter.com.cy

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