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New saloon cars go up

22/11/2010 08:49
The private saloon car market in Cyprus is moving to two different directions in the past few months. The new car importers see a gradual return of the drivers to the show rooms at the same time that the used cars still follow a downward trend.

According to latest Cystat data, new saloon car registrations in October 2010 recorded an annual increase of 21%.

The downward pressure on the new car prices seems to have affected the used car market, which has stuck to exceptionally low levels. In October, used car registrations recorded an annual decrease of 15%, despite last year’s low basis.

The new car importers support that the market has recovered due to the lower prices in the past year as a result of the increasing competition and the offers.

“The offers by the new car importers, not only in terms of prices but in service too, so as to make the sale packages more attractive, contributed to the upward trend of the new cars”, Mercedes Sales Manager, Lakis Kostekoglou said.

Mr. Kostekoglou believes that this trend will continue until the end of the year, despite the stagnant numbers of the first fifteen days of November.

Similarly, Ford Sales Manager, Charalambos Papacharalambous noted that the offers managed to make new cars being within everybody’s reach so as no to turn to the used cars.

At the same time, Mr. Papacharalambous referred to the plan for the withdrawal of old cars, stressing that it contributed to the increased interest in new cars.