Cyprus 2018. Toyota leader again in a market up 15.1%

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Cyprus Auto Market
Kia-Picanto_X-Line-2018

Cyprus Auto Market in 2018 grew 15.1% from last year, ending with registrations at 14.731. Toyota is the market leader – with 12.5% of market share – ahead of Ford (+21%) and Kia (+32.9%). 

Economic Environment

Available fourth-quarter data has been downbeat; an uptick in joblessness and deteriorating economic sentiment are likely to drag on year-end gains. The recovery is set to continue next year, although economic growth is expected to moderate as inflation eats into consumer-spending gains—offsetting improved lending metrics and rising employment. Downside risks include high levels of public- and private-sector debt and a large, albeit gradually declining, stock of non-performing loans.

Market Trend

The automotive industry, one of the smaller within the EU, was severely hit by the financial crisis falling down during the period 2010-2013 before recovering and anticipating the economic growth. In the last three years the domestic car market grew fast with both 2015 and 2016 up 25%. In the 2017 sales improved a little with volume at 14.822 (+0.4%).

MarketSales 2014Sales 2015Sales 2016Sales 2017Sales 2018'+/- 2018
Car8.27610.34412.83912.79414.73115,1%

In the 2018 the market improved from last year. Indeed, after a very positive start, sales grown by 15.1% from last year, closing with 14.731 units sold.

At brand-wise, market leader year to date is Toyota with 1.837 sales (+9.8%) and 12.5% of market share.

In second place Ford with 1.726 (+21%), followed by Kia with 1.648 units (+32.9%), Nissan with 1.571 (+7.9%) and Volkswagen with 989 (-2.5%).

Rank 2018Rank 2017Sales 2018Sales 2017'+/- 2018Share 2018
11Toyota1.8371.6729,8%12,5%
23Ford1.7261.42621,0%11,7%
34Kia1.6481.24032,9%11,2%
42Nissan1.5711.4557,9%10,7%
55Volkswagen9891.015-2,5%6,7%
67BMW711754-5,7%4,8%
76Mercedes703770-8,6%4,8%
88Hyundai561655-14,4%3,8%
910Audi501505-0,8%3,4%
109Honda412550-25,1%2,8%

Rank 2018Rank 2017Sales 2018Sales 2017'+/- 2018Share 2018
12Hyundai-Kia2.2091.89516,6%15,0%
21Volkswagen Group2.1721.93812,1%14,7%
34Toyota Group1.9401.75510,6%13,2%
45Ford Group1.7261.42621,0%11,7%
53Renault Nissan Alliance1.6861.874-10,0%11,4%
66BMW1.01385418,6%6,9%
78P.S.A.81555846,1%5,5%
87Mercedes Daimler741790-6,2%5,0%
913F.C.A.676221205,8%4,6%
1010Tata52242024,3%3,5%

Rank 2018Rank 2017ModelSales 2018Sales 2017'+/- 2018
14Toyota Yaris5885379,5%
23Nissan Qashqai5655512,5%
35Toyota C-HR54647814,2%
42Hyundai Tucson416595-30,1%
57Kia Rio412459-10,2%
616Ford Kuga38621777,9%
78Kia Sportage359390-7,9%
81Ford Focus315630-50,0%
923Kia Picanto30615992,5%
1011Nissan Juke279288-3,1%