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.

The Future Forbes Realty Global Properties

Revolut Secures Full U.K. Banking License, Unlocking New Growth Opportunities

by THEFUTURE.TEAM

March 12, 2026

Strategic Milestone In U.K. Banking

The fintech leader, Revolut, has achieved a major landmark by obtaining its full U.K. banking license after years of diligent negotiations with U.K. regulators. This long-awaited clearance marks a significant step in the company’s strategic journey, enabling it to expand its portfolio of products, including new lending solutions, for both retail and business customers.

Enhanced Capabilities For U.K. Customers

Previously confined by a restricted license that allowed only minimal customer deposit holdings, Revolut now has the regulatory approval to operate as a fully licensed bank. This transition elevates its competitive positioning against traditional high street banks such as Barclays and HSBC, institutions that manage substantially larger volumes of customer deposits.

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Driving Global Expansion And Innovation

For Revolut, whose valuation soared to $75 billion as recently as 2025, this development in its home market reinforces its commitment to global growth. As highlighted by cofounder and CEO Nik Storonsky, this regulatory milestone is not only a breakthrough for the U.K. but also a linchpin in the company’s ambition to become the world’s first truly global bank. With plans already underway to secure a U.S. banking license and to penetrate 30 new markets by 2030, the strategic focus remains on harnessing innovation and strong international growth.

Looking Ahead

Revolut’s achievement reinforces its status as one of the most valuable private tech companies in Europe. As it navigates a competitive landscape dominated by established financial institutions, the fintech disruptor is poised to redefine banking services on a global scale, offering a comprehensive suite of products that cater to an increasingly digital customer base.

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