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Electric And Hybrid Vehicles Strengthen Cyprus’ Automotive Market In 2025

According to recent data released by Cystat, Cyprus witnessed a robust 4.2 percent increase in total motor vehicle registrations during the first ten months of 2025, climbing from 42,930 to 44,732 units. This growth underscores the island nation’s evolving automotive landscape as consumer demand shifts towards greener technologies.

Rising Demand For Low-Emission Technologies

The report highlights that passenger saloon car registrations grew by 4.0 percent, reaching 34,782 units. A notable detail is that 37.2 percent of these vehicles are brand new, while the remaining 62.8 percent are pre-owned. Moreover, rental car registrations surged by an impressive 33.8 percent to 4,866 units. Such trends indicate that both individuals and businesses are increasingly favoring environmentally friendly vehicle options.

Hybrid And Electric Models Gain Ground

A deeper dive into the data reveals a discernible consumer tilt away from traditional fuels. The market share of petrol-powered passenger cars dropped to 42.5 percent from 49.5 percent, with diesel models also receding to 8.6 percent from 10 percent. In contrast, electric cars experienced a modest growth from 3.8 percent to 4.8 percent, and hybrids soared from 36.7 percent to 44.1 percent. Nearly half of all new passenger saloon car registrations thus comprise hybrid or fully electric models, a milestone that signals Cyprus’ commitment to low-emission mobility.

Growth Across Commercial Vehicle Segments

Commercial segments were not left behind. Motor coaches and buses increased from 125 to 167 units, while the goods conveyance category expanded by 6.6 percent, reaching 5,142 units. Within this segment, rental vehicles, light goods vehicles, and heavy goods vehicles recorded gains of 23.3 percent, 6.6 percent, and 3.1 percent respectively. Notably, road tractors maintained steady numbers, and motorcycles over 50cc increased by 17.0 percent, reflecting diversified growth across all vehicle types. Conversely, mopeds under 50cc saw a significant decline, falling from 627 to 190 units.

October 2025: A Snapshot Of Accelerated Growth

Focusing on October 2025, total vehicle registrations reached 4,520—a 9.9 percent increase from October 2024’s 4,111 units. Passenger saloon cars alone spiked by 11.7 percent, further underscoring the sustained momentum of the market.

Conclusion: Steering Towards A Sustainable Future

The latest figures clearly indicate that consumer preferences in Cyprus are undergoing a powerful transformation, increasingly favoring hybrid and electric vehicles over traditional petrol and diesel models. This shift not only supports the nation’s environmental goals but also positions Cyprus’ automotive market at the forefront of low-emission innovation in the region.

doValue Cyprus Strengthens Market Leadership With New Astrobank Portfolio

Expanding Market Influence

Loan and real estate management firm doValue Cyprus has significantly reinforced its domestic presence in non-performing loan servicing by acquiring a new portfolio from Astrobank Public Company Limited. This development follows Astrobank’s recent transition, marked by the transfer of key operations to Alpha Bank Cyprus Limited and the subsequent surrender of its banking licence.

Strategic Acquisition And Swift Execution

Finalized on November 3, 2025, the agreement underscores a decisive strategic shift as doValue Cyprus assumes management of Astrobank’s remaining portfolio. The immediate commencement of portfolio management is a testament to the firm’s commitment to delivering specialized, resilient solutions within the non-performing loan market.

Expertise Driving Market Growth

Chief Executive Officer Varnavas Kourounas emphasized that the latest portfolio acquisition not only expands the firm’s operational footprint but also validates its credibility and deep expertise in the competitive Cypriot financial sector. The strategic move is aligned with the broader growth ambitions of the doValue Group.

Broader Market Implications

Operating as part of the international doValue Group—the largest independent loan and real estate management organization in Southern Europe—doValue Cyprus is well-positioned to leverage its newly expanded portfolio. With approximately €136 billion in assets under management, the group maintains a dominant presence across Italy, Greece, Spain, Portugal, and Cyprus. Moreover, its subsidiary, Altamira Real Estate, runs Cyprus’ largest real estate platform, managing extensive property portfolios alongside the island’s most comprehensive sales network.

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