Jan car registrations soar

According to CYSTAT data released on Monday, Cypriot consumers have clearly showed their preference for the purchase of new private cars lately. Specifically, the number of total private cars registered in January 2004 increased by 9.8% from 3,542 to 3,890 compared to the corresponding month of 2003, while the number of new cars has showed an increase of 34%. New saloon car registrations for January reached 1251 compared to 933 in the corresponding month of 2003, while used saloon car registrations have recorded an increase of 19% to 1993 compared to 1674 in January 2003.

The market share for the used cars stood at 61%, which is higher than the market share of the new cars (39%). For January 2003, used cars represented 64% of the total registrations, while new cars represented only 36%.

Overall

Total registrations for January 2004 increased by 10% to 3,890, compared to the corresponding month of 2003 when registrations reached 3,542, whereas total new car registrations stood at 1,669 against 1,641 in January 2003 (+2%). Total used car registrations for January 2004 showed an increase of 11% to 2,221 against 2,001 in the corresponding period of 2003.