In February, vehicle registrations in Cyprus fell by 14.04% with respect to February of 2020. In total, 1,041 cars were registered and 11,444 new cars were sold in the last twelve months, 15.25% less than the year before.
The breakdown of car sales figures for the month of February is:
- Commercial vehicles sold: 147, 17.42% less than in February of 2020.
- Passenger cars regitrations: 894, which represents a figure of 13.46% less than in February of 2020.
Cyprus is the 89th-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 12.92 cars per 1,000 residents, 1.17 of them in the last month, Cyprus, occupies 45th place in the ranking.
As can be seen, the number of registrations per thousand residents has fallen in the last year. A drop in registrations generally indicates a fall in consumer confidence and, when it is sustained, a recession in the real 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.