In the first seven months of 2024, 24,126 passenger sedans were registered, an increase of 13.9% compared to the same period last year, when 21,178 cars were registered.

Despite the overall increase in registrations, the percentage of used cars has decreased slightly, but they still make up the majority of the market – 57.9% or 13,975 registrations. New cars account for 42.1% of the total with 10,151 registrations.

Electric vehicles showed slight growth, increasing their share from 2.5% in the first seven months of 2023 to 3.2% in the same period of 2024, but their market penetration remains low. At the same time, hybrid cars have dramatically increased their market share, rising from 27.8% to 36.85%, with the total number of registrations reaching 9,000.

The general market of passenger sedans

Toyota holds the lead in the overall passenger sedan market, with 4,158 registrations in the first seven months of 2024. It is followed by Mazda (2770), Nissan (2330), Kia (1727) and Mercedes (1367).

The top 10 also includes brands such as BMW (1,264), Volkswagen (1,210), Hyundai (985), Honda (598) and Land Rover (544).

New passenger cars

Of all registered cars, 42% were new models, with a total of 10,151 registrations. Kia became the leader among new cars with 1,651 registrations, followed by Nissan (1,087), Volkswagen (975), Hyundai (922) and Toyota (912).

BMW (489), Mercedes (387), Audi (323), Skoda (246) and Renault (219) also entered the top ten.

Used passenger cars

Used cars account for almost 60% of the market, with 14,000 registrations, of which 12,131 are private cars. Toyota also ranks first among used cars with 3246 registrations, followed by Mazda (2691), Nissan (1243), Mercedes (980) and BMW (775).

The list of popular used cars also includes Honda (511), Land Rover (330), Suzuki (281), Volkswagen (235) and Lexus (207).

A source: inbusinessnews.reporter.com.cy

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