13/05/2008 12:27
It seems that the international financial crisis has not affected Cypriots yet, who insist in buying luxury cars. According to latest Road Transport Department and OEB figures, one in four of the total 3,799 new and used cars registered in April were Mercedes or BMW.
Mercedes ranks first with 549 registrations, holding a market share of 14.4%.
Toyota ranks second with 534 registrations or 14.1% of the market share, followed by BMW (417 or 11%), Suzuki (7.8%), Nissan (7.5%) and Volkswagen, Honda, Ford, Mazda and Mitsubishi.
Cypriots, however, have expressed less interest in cars in 2008. “The increase in the price of oil, inflation and the economic instability in Europe have affected Cypriot buyers”, Mercedes Finance Director, Andreas Michael, told StockWatch. “I believe that saloon car registrations will increase slightly in 2008 against the sharp increase in 2007”, he added.
Latest CYSTAT data also showed a lower interest in the saloon car market. Specifically, private saloon car registrations in the first three months of the year inched up 3% to 12,625 against 12,262 in the corresponding period of 2007, when they had recorded a sharp increase of 31.6%.
Further date on car registrations for the first four months of 2008 will be released by the Statistics’ Service on May 15.
Mercedes ranks first with 549 registrations, holding a market share of 14.4%.
Toyota ranks second with 534 registrations or 14.1% of the market share, followed by BMW (417 or 11%), Suzuki (7.8%), Nissan (7.5%) and Volkswagen, Honda, Ford, Mazda and Mitsubishi.
Cypriots, however, have expressed less interest in cars in 2008. “The increase in the price of oil, inflation and the economic instability in Europe have affected Cypriot buyers”, Mercedes Finance Director, Andreas Michael, told StockWatch. “I believe that saloon car registrations will increase slightly in 2008 against the sharp increase in 2007”, he added.
Latest CYSTAT data also showed a lower interest in the saloon car market. Specifically, private saloon car registrations in the first three months of the year inched up 3% to 12,625 against 12,262 in the corresponding period of 2007, when they had recorded a sharp increase of 31.6%.
Further date on car registrations for the first four months of 2008 will be released by the Statistics’ Service on May 15.
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