Turn to used cars

Cypriots seem to resort to the purchase of used cars in order to cope with the effect of the crisis.

Used saloon registrations were the driving force behind April's increase in saloon registrations resulting in the largest increase of the past four months.

Private saloon registrations are increasing since February of last year with the sole exception of December 2014, supporting the hope for recovery of the automotive market.

According to official figures released today by the Statistical Service, private saloon car registrations reached 1.480 in April 2015.

Compared to April 2014, when 1.312 vehicles were registered, a growth of 12.8% was recorded.

Based on the same data, registrations of new saloon vehicles fell by 6.5% in April, to 561 from 600 in April 2014.

Registrations of used vehicles on the other hand, recorded a significant increase.

Used vehicles registrations rose by 29.1% in April reaching 919 against 712 in the corresponding month of 2014.

Regarding the first four months of 2015, registrations of private saloon cars, increased by 10% reaching 6.047, compared to 5.498 in the corresponding period of 2014.

New saloon vehicles were slightly up by 1.6%, while used car registrations rose by 17.5% in the four months of 2015.