Breaking news

Cyprus Vehicle Registrations Rise 13.2% As Hybrids Top 50% Market Share

Vehicle registrations in Cyprus rose 13.2% in the first half of 2026, driven by continued growth in hybrid passenger cars.

According to data from the Statistical Service, 29,367 motor vehicles were registered between January and June 2026, up from 25,954 in the corresponding period of 2025. Passenger saloon car registrations increased 13% to 22,597 from 20,004 a year earlier.

Hybrids Now Command More Than Half Of The Market

Hybrid passenger cars accounted for 51.7% of passenger saloon registrations in the first six months of 2026, up from 43% a year earlier.

Petrol-powered cars accounted for 35.2% of registrations, down from 43.6%, while diesel vehicles declined to 8.2% from 8.6%. Pure electric vehicles represented 4.9% of registrations, compared with 4.8% in the same period of 2025.

New And Used Cars Continue To Shape Demand

Of the 22,597 passenger saloon cars registered during the period, 7,245 were new, and 15,352 were used. Rental car registrations fell 11.8% to 2,487 from 2,820 in the first half of 2025.

Commercial Vehicles And Motorcycles Post Mixed Results

Bus registrations increased to 111 from 78 a year earlier, while goods transport vehicles rose 14.9% to 3,510 from 3,055. Within that category, light trucks increased 12.9% to 2,795, road tractors rose 18.4% to 135, heavy trucks climbed 22.3% to 423, and rental goods transport vehicles increased 31.9% to 157. Motorcycle registrations were mixed. Mopeds below 50cc fell to 77 from 112, while motorcycles above 50cc increased 13.4% to 2,681 from 2,364.

June Growth Held Steady

Total vehicle registrations reached 5,624 in June 2026, up 13.8% from 4,942 in June 2025. Passenger saloon car registrations increased 14.8% to 4,338 from 3,780 a year earlier.

Shein Targets $25 Billion Valuation In Hong Kong IPO As Growth Slows

Shein is reportedly targeting a valuation of around $25 billion in its planned Hong Kong IPO, a sharp decline from the nearly $100 billion valuation the online fashion retailer achieved in a 2022 fundraising round.

Two people familiar with the plans said the company was likely to target about $25 billion, while another source put the expected range at $25 billion to $28 billion based on the proposed price band.

IPO Valuation Falls Sharply

Shein plans to sell up to 8% of its shares in the offering, according to a person familiar with the plans. At a $25 billion valuation, that would translate into an IPO of as much as $2 billion.

The latest target is also below the $30 billion to $40 billion valuation the company was seeking earlier this month as it began meeting with potential investors.

Founded in China in 2012 and now headquartered in Singapore, Shein sells low-cost clothing to consumers in about 160 countries. The company is expected to launch its long-awaited Hong Kong IPO later this week.

Trade Restrictions Weigh On Growth

Shein’s valuation has come under pressure as major markets tighten rules affecting low-cost e-commerce shipments. The European Union, for example, has moved to impose additional fees on cheap parcels from platforms such as Shein and Temu. EU Tightens Rules On Low-Cost E-Commerce Parcels

In the U.S., the removal of an import duty exemption for small packages has also affected the company. Shein reported a $99 million quarterly loss in the first quarter of 2026 as sales growth slowed, while a one-time accounting charge further weighed on its results. Shein Reports First-Quarter Loss Ahead Of IPO

Investors Question Shein’s Growth Prospects

The steep reduction in valuation reflects growing concerns over slower growth, higher trade costs, regulatory pressure and stronger competition across global e-commerce.

Some investors who reviewed Shein’s recent financial statements or attended IPO presentations told Reuters they were skeptical that the company could return to the growth rates that supported its $98.2 billion valuation in 2022. Shein’s Slowing Growth Tests Investor Appetite

A lower IPO valuation could also affect Shein’s existing investors. Under the terms of its IPO filing, the company may have to issue additional shares to certain pre-IPO investors if its valuation falls below agreed thresholds.

eCredo
The Future Forbes Realty Global Properties
Aretilaw firm
Uol

Become a Speaker

Become a Speaker

Become a Partner

Subscribe for our weekly newsletter