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.

Cyprus Employment Rises 1.7% To 525,167 In Q2 2026

Cyprus employment increased 1.7% year over year to an estimated 525,167 people in the second quarter of 2026, according to the state statistical service, Cystat. Employees accounted for 472,254 of the total, while 52,913 were self-employed. The increase points to continued labor market growth across both wage employment and independent work.

Trade, Construction And Leisure Lead Employment Growth

Wholesale and retail trade, including motor vehicle and motorcycle repair, recorded some of the strongest employment gains, alongside construction and arts, entertainment and recreation.

Those sectors are closely linked to domestic economic activity, with trade reflecting consumer demand and construction reflecting investment. Employment growth in leisure-related industries also points to continued activity in consumer-facing services.

Hours Worked Rise Faster Than Employment

Labor input increased faster than headcount. Cystat estimated that employees and other workers put in 246.57 million hours during the second quarter, up 2.2% from a year earlier.

The increase suggests that businesses were not only employing more people but also recording higher total hours worked. Wholesale and retail trade, construction, and arts, entertainment and recreation again recorded the strongest gains.

Labor Market Expansion Remains Broad-Based

The combination of higher employment and hours worked points to continued expansion in Cyprus’ labor market during the second quarter. The pace remains moderate, but gains across several major sectors indicate that labor demand continued to support economic activity.

Uol
Aretilaw firm
The Future Forbes Realty Global Properties
eCredo

Become a Speaker

Become a Speaker

Become a Partner

Subscribe for our weekly newsletter