A Shift In Cyprus Car Market: Decline In Sales, Rise In Hybrids

by News Editor

April 9, 2025

According to recent data from the Cyprus Statistical Service (Cystat), the first quarter of 2025 witnessed a 4.5% decline in Cyprus motor vehicle registrations compared to last year. Despite an increase in March, total registrations dropped from 12,827 to 12,256 vehicles.

March Exception

March brought some relief with a 4.3% rise, registering 4,422 vehicles compared to 4,238 the previous year. However, this was not enough to counter the overall trend.

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Passenger Saloon Car Trends

Passenger saloons fell by 5.9%, with new cars constituting 46.4%. A significant detail is the increase in rental saloon cars by 13.1% to 1,027.

Greener Shift In Preferences

The shift towards more environmentally friendly options continues. Petrol-powered saloons decreased to 43.2%, while electric cars saw an increase from 3.8% to 4.9%, and hybrids from 37.2% to 42.9%.

Diverse Vehicle Segment Changes

Motor coaches and buses saw a drastic 40.6% drop, and mopeds under 50cc plummeted to just 60 from 240. Light goods vehicles, however, showed a 4.7% increase.

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Bank Of England Holds Rates At 3.75% In Split Vote As Inflation Risks Rise

by THEFUTURE.TEAM

September 17, 2026

The Bank of England kept its benchmark interest rate at 3.75% on Thursday, but the decision was not unanimous. In a 6-3 vote, the Monetary Policy Committee kept rates unchanged, while three members backed a 25-basis-point increase to 4%. Renewed energy price pressures have added to concerns that inflation could remain elevated.

Inflation Pressures Remain

Policymakers said inflation “is likely to rise further over coming quarters,” citing higher and more volatile crude oil and refined energy prices since the conflict began.

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So far, there has been “little evidence” of significant second-round effects, such as broader wage and price increases. Inflation risks, however, are now “tilted to the upside” and have increased since the July Monetary Policy Report.

Energy Prices Add To Inflation Risks

Brent crude has risen 36% since July, reaching $106 a barrel on Sept. 14, while UK wholesale gas prices increased 78% to 207 pence per therm.

Higher energy costs can feed into transport, production and household expenses, raising costs across supply chains. Refinery pressures have also pushed crack spreads, the difference between refined fuel and crude prices, well above pre-conflict levels.

Economy Shows Resilience

Despite the inflation risks, UK economic activity has held up slightly better than the Bank expected. A softer labor market and higher borrowing costs are expected to help reduce inflation over time.

Previous monetary tightening is still working through the economy, according to policymakers. So far, the latest energy shock has not produced clear evidence of a broader wage-price spiral.

Major Central Banks Take Different Paths

The decision comes during a busy period for global monetary policy. The Federal Reserve raised rates Wednesday to 3.75%-4% in its first increase since 2023, while the European Central Bank recently lifted its deposit rate to 2.5%.

The Bank of Japan is due to announce its decision Friday, with markets expecting a rate increase. Thursday’s split vote shows that pressure for tighter policy remains within the Bank of England’s Monetary Policy Committee.

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