21/01/2016 14:23
Saloon registrations in 2015 reached the highest level since 2011 as the car industry recorded growth for the second consecutive year.
The car industry was significantly hurt in recent years due to the economic crisis but it is gradually recovering reflecting the gradual improvement in consumption.
According to figures released today by the Statistical Service, saloon registrations amounted to 21.462 in 2015 compared with 17.933 in 2014 recording an increase of 19.7%. This is the largest number of vehicles registered since 2011 when saloon registrations amounted to 27.929.
Registrations of new saloon vehicles reached 10.078 or 47% in 2015 while used car registrations reached 11.384 or 53%. Both categories recorded growth of 21.8% and 17.8% respectively.
In 2013 saloon registrations fell to the lowest level of the last 19 years.
In 2008, registrations had reached 51 thousand.
The Brand Manager of Hyundai Charalambos Papacharalambous told StockWatch that the market is recovering in the last two years amid the improving situation of the economy and the general market sentiment.
He noted that significant growth is recorded in SUV vehicles (Sports Utilities Vehicles).
Rise to continue in 2016
Market players think that the increase in registrations will continue in 2016.
Mr. Papacharalambous said that indications for 2016 are positive noting that a possible solution to the Cyprus problem will help both the economy and the car industry.
A similar assessment that the positive development of the sector will continue in 2016, was also expressed by the Sales Manager of Mercedes, Lakis Kostekoglou who said that while the economy is improving the industry will be positively affected.
The car industry was significantly hurt in recent years due to the economic crisis but it is gradually recovering reflecting the gradual improvement in consumption.
According to figures released today by the Statistical Service, saloon registrations amounted to 21.462 in 2015 compared with 17.933 in 2014 recording an increase of 19.7%. This is the largest number of vehicles registered since 2011 when saloon registrations amounted to 27.929.Registrations of new saloon vehicles reached 10.078 or 47% in 2015 while used car registrations reached 11.384 or 53%. Both categories recorded growth of 21.8% and 17.8% respectively.
In 2013 saloon registrations fell to the lowest level of the last 19 years.
In 2008, registrations had reached 51 thousand.
The Brand Manager of Hyundai Charalambos Papacharalambous told StockWatch that the market is recovering in the last two years amid the improving situation of the economy and the general market sentiment.
He noted that significant growth is recorded in SUV vehicles (Sports Utilities Vehicles).
Rise to continue in 2016
Market players think that the increase in registrations will continue in 2016.
Mr. Papacharalambous said that indications for 2016 are positive noting that a possible solution to the Cyprus problem will help both the economy and the car industry.
A similar assessment that the positive development of the sector will continue in 2016, was also expressed by the Sales Manager of Mercedes, Lakis Kostekoglou who said that while the economy is improving the industry will be positively affected.
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