Key Market Indicators
Cypriot Vehicle Registration is projected to decline to approximately 12,800 units by 2028, down from nearly 13,700 units in 2023. This represents an average annual decrease of 1%. The Cypriot market has been experiencing a downward trend since 2010, with a year-on-year decline of 1.6%. In the global ranking for 2023, Cyprus placed 86th, just behind Trinidad and Tobago, which also registered close to 13,700 units. Leading the global rankings were Canada, China, and Austria, securing the second, third, and fourth positions, respectively.
