Cyprus’s Auto market in 2021 rises by 6.4% with 10,630 sales, reporting a positive performance in Q2 and Q3. Nissan reported the worst performance, dropping 10.2%.
Market Trend
Cyprus’s car market this year reported a positive performance, growing in Q2 and Q3.
The automotive industry of Cyprus, one of the smaller within the EU, was severely hit by the financial crisis falling down during the period 2010-2013 before recovering and anticipating the economic growth. In the last three years, the domestic car market grew fast with both 2015 and 2016 up 25%. In 2017 sales improved a little with volume at 14,822 (+0.4%), while growing 15.1% in 2018, closing with 14,731 units sold. In 2019, the market embarked on a negative pathway, reporting sales down a disappointing 17% with 12,220 units sold.
Due to the COVID-19 Pandemic, full-Year sales for 2020 have been 10,061, reporting a decline of 17.7% compared to 2019.
In 2021 the year started negatively for the Cyprus market, in fact, in Q1 2,835 units have been sold, reporting a 2.9% decrease in sales compared to Q1 2020, while in Q2 sales started growing quickly, reporting a 50.6% increase in sales with 2,969 units due to the low sales reported in Q2 2020.
In Q3 sales slowed down, gaining 5.6% sales with 2,795 units, and dropped in double-digits in Q4 with 2,031 units sold (-17.2%).
Indeed, Full-Year sales for 2021 have been 10,630, reporting a 6.4% increase compared to 2020.
Brand-wise, this year the leader Kia (+22.9%) gained 2.3% market share, followed by Toyota (+10.3%), which gained 0.8% share. Volkswagen on the other hand lost 0.1% share, gaining just 3.1%. Nissan reported the worst performance, losing 10.2% sales, followed by Hyundai (-8.1%).
BMW gained 27.6%, followed by Mercedes (+10.9%) and Audi which gained 7.9% sales. Closing the leaderboard we have Ford -up 3 spots- gaining 30.6% this year and Skoda rising 5 position and gaining 23.3%.
The most sold model in the country is the Kia Sportage with 534 sales (+75.1%), holding 4.4% market share.
Tables with sales figures
In the tables below we report sales for all Brands and top 10 Manufacturer Groups.
