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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Alpha Bank Reorganizes Retail Banking And Branch Operations

by THEFUTURE.TEAM

April 2, 2026

Alpha Bank announced changes to its retail banking model, restructuring branch operations and service delivery. The update focuses on customer service, branch roles, and integration of digital tools.

Strategic Overhaul Of Banking Services

The changes reflect a shift in how retail banking services are organized and delivered. Alpha Bank said it is strengthening its retail strategies division to coordinate commercial activity and support its branch network. The model is designed to align services with changing customer needs and improve product delivery.

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Revitalizing The Branch Network

Branches are being repositioned from transaction-focused locations to advisory and business-development centres. The new structure includes five directorates and 25 regional units, aimed at improving local coverage and coordination. The approach is intended to increase customer engagement and support regional economic activity.

Empowering Clients And Advancing Technology

The bank is expanding the role of branch staff in advisory services and centralizing commercial planning. Digital tools are being integrated to support remote services and improve efficiency. These include contactless ATM transactions and other features designed to reduce processing time and support customer interaction.

Committing To Excellence And Development

The transformation includes investment in employee training and development. CEO Vassilis Psaltis said the changes aim to expand staff responsibilities and improve response to customer needs. He added that the updated model positions branches as part of local economic activity while supporting customer service.

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