Key Market Indicators
Cyprus is projected to register approximately 12,840 vehicles by the year 2028, marking a decrease from the 13,690 units recorded in 2023. This represents a 1% year-on-year decline in compound annual growth rate (CAGR). Since 2010, the Cypriot vehicle market has experienced an average annual decrease of 1.6%. In the global ranking for 2023, Cyprus held the 86th position. Trinidad and Tobago edged ahead with 13,690 units. Canada, China, and Austria occupied the second, third, and fourth positions respectively in the same ranking.
