30/01/2015 14:14
Private saloon car registrations recorded an increase in 2014 compared to last year’s low basis, according to official data released today.
This is the first year that the sector is going up after the slump of the previous five years.
In 2013, private saloon registrations had recorded a 19-year low.
The market players hope the sector will stay in positive course but expressed reservations due to negative effects from other sectors.
Fords’ Charalambos Papacharalambous said that an important factor for the increase was the lower taxation applied at the end of 2013 and is related to the car emission levels. This contributed to the decrease in prices and the increase in sales.
Both new private cars and used private cars recorded a significant increase in 2014 but remained low.
Total private saloon cars increased by 25% to 17.099 compared with 13.679 in 2013.
In 2014, new saloon registrations rose 24.8% to 7.794 from 6.246 in 2013.
As for the used cars registrations in 2014, they increased by 25.2% to 9.305 compared to 7.433 in 2013.
In 2008, a record year for the cars, registrations had reached 49 thousand.
In December 2014, private saloon car registrations fell by 9.6% to 1.182 against 1.307 in the corresponding month of 2013.
Importers express reservations about the course of the sector stressing that 2015 will be a year of uncertainty.
At the same time, they point out the various factors likely to affect the course of the automotive market such as the lower Russian arrivals and the economic developments.
Sales Manager of Mercedes, Lakis Kostekoglou expressed hope that the course of the sector will remain positive, although “some negative signs are observed”.
He explained that the decrease in Russian arrivals affects negatively not only tourism but also the luxury vehicle sales by premium brands importers.
"2015 will be an important and uncertain year, decisive for the future course of the sector”, Mr. Papacharalambous stated.
"The course of the automotive market is correlated with the economy so much will depend on the developments in this sector”, he added.
This is the first year that the sector is going up after the slump of the previous five years.
In 2013, private saloon registrations had recorded a 19-year low.The market players hope the sector will stay in positive course but expressed reservations due to negative effects from other sectors.
Fords’ Charalambos Papacharalambous said that an important factor for the increase was the lower taxation applied at the end of 2013 and is related to the car emission levels. This contributed to the decrease in prices and the increase in sales.
Both new private cars and used private cars recorded a significant increase in 2014 but remained low.
Total private saloon cars increased by 25% to 17.099 compared with 13.679 in 2013.
In 2014, new saloon registrations rose 24.8% to 7.794 from 6.246 in 2013.
As for the used cars registrations in 2014, they increased by 25.2% to 9.305 compared to 7.433 in 2013.
In 2008, a record year for the cars, registrations had reached 49 thousand.
In December 2014, private saloon car registrations fell by 9.6% to 1.182 against 1.307 in the corresponding month of 2013.
Importers express reservations about the course of the sector stressing that 2015 will be a year of uncertainty.At the same time, they point out the various factors likely to affect the course of the automotive market such as the lower Russian arrivals and the economic developments.
Sales Manager of Mercedes, Lakis Kostekoglou expressed hope that the course of the sector will remain positive, although “some negative signs are observed”.
He explained that the decrease in Russian arrivals affects negatively not only tourism but also the luxury vehicle sales by premium brands importers.
"2015 will be an important and uncertain year, decisive for the future course of the sector”, Mr. Papacharalambous stated.
"The course of the automotive market is correlated with the economy so much will depend on the developments in this sector”, he added.
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