In May, vehicle registrations in Cyprus grew by 29.67% with respect to May of 2021. In total, 1,569 cars were registered and 13,206 new cars were sold in the last twelve months, 3.49% more than the year before.
The breakdown of car sales figures for the month of May is:
- Commercial vehicles sold: 265, 45.6% more than in May of 2021.
- Passenger cars regitrations: 1,304, which represents a figure of 26.85% more than in May of 2021.
Cyprus is the 88th-placed country in ranking of 137 countries based on number of vehicle registrations.
A very useful variable for estimating the level of economic wealth enjoyed by Cypriots residents, when compared to the other countries in the ranking, is the number of vehicles sold or registered per thousand residents in the last year. With annual sales of 14.6 cars per 1,000 residents, 1.73 of them in the last month, Cyprus, occupies 42th place in the ranking.
As can be seen, the number of registrations per thousand residents has grown in the last year. The increase in this figure is positive, as it generally indicates improved public confidence in the country's economy.
Here we show you the progression of vehicle registrations in Cyprus. You can see car registrations in other countries in en vehicle registrations and see all the economic information about Cyprus in en Cypriot economy.