**Used Cars Tighten Their Grip on Cyprus Market as New Registrations Fall**
In the first eight months of 2026, the motor vehicle market in Cyprus has witnessed a significant shift, with used cars driving growth while new vehicle registrations have declined. According to data released by the statistical service, Cystat, a total of 38,564 motor vehicles were registered from January to August, reflecting an 11.2% increase compared to 34,668 during the same period last year.
This growth has been largely fueled by a notable rise in used vehicle registrations, which surged by 22.7% from 19,504 to 23,923. In contrast, the number of new vehicles registered fell by 3.4%, dropping from 15,164 to 14,641. The disparity between new and used vehicle registrations indicates a growing preference among consumers for pre-owned vehicles.
The trend continued into August, where overall vehicle registrations increased by 8.9% to 3,777, up from 3,468 in August 2025. New vehicle registrations saw a modest rise of 1.4% to 1,124, while used vehicles experienced a more substantial increase of 12.4%, reaching 2,653.
Passenger saloon cars remained the dominant segment of the market, with registrations rising by 10.9% to 29,902 during the first eight months of the year, compared to 26,961 in the same period last year. Of these, 9,326 (31.2%) were new, while 20,576 (68.8%) were used vehicles. In August alone, registrations of passenger cars increased by 9.2% to 3,061, compared to 2,803 during the same month in 2025.
Interestingly, the rental car sector has seen a decline, with registrations dropping by 14.2% from 4,044 to 3,468 between January and August. This downturn contrasts sharply with the overall growth in the used vehicle market.
The market for hybrid vehicles has also expanded significantly, now accounting for 52.4% of passenger car registrations, up from 43.6% a year earlier. Conversely, the share of petrol-powered cars has decreased from 43.2% to 35.3%, and diesel vehicles have also seen a slight decline from 8.5% to 8%. Electric cars, while still a growing segment, saw their share fall from 4.8% to 4.3%.
Beyond passenger cars, the registrations of motor coaches and buses increased by a remarkable 40.6%, totaling 142 compared to 101 during the first eight months of 2025. However, registrations in this category remained unchanged in August at 12.
Goods vehicles also experienced growth, with registrations rising by 13.4% to 4,463, up from 3,935. Within this category, light goods vehicles increased by 12.2% to 3,535, while heavy goods vehicles saw a 17% rise to 536. Road tractors also reported a 21% increase to 167, and rental goods vehicles rose by 20.3% to 225. In August, registrations of goods vehicles climbed by 19% to 389, compared to 327 a year earlier.
On the other hand, registrations of mopeds under 50cc fell sharply by 33.5% to 103 during the eight-month period, down from 155 last year, with August figures dropping by 75% to just three. In contrast, mechanised cycles over 50cc increased by 10.8% to 3,428, although their August registrations fell by 9.4% to 261.
Tractor registrations rose by 6.8% to 220, with August figures showing a significant increase of 46.7% to 22. Additionally, registrations of other vehicles, including road rollers, mobile cranes, and specialized vehicles, saw a substantial rise of 41.7% to 306, following a dramatic increase of 163.6% in August alone.
The data underscores a significant trend in the Cypriot motor vehicle market, where used cars are increasingly favored over new ones, reflecting changing consumer preferences and economic factors influencing purchasing decisions. As the market evolves, stakeholders will be keen to monitor these trends and their implications for the future of the automotive industry in Cyprus.