Cyprus auto market falls due to the global pandemic affecting sales. Indeed, Full Year 2020 sales have been 10.061, down 17.7% compared to 2019. Renault reports the largest growth in the leaderboard, rising 51.9%.
The Cyprus vehicle market has been affected in 2020 by the global COVID-19 pandemic, which impacted sales significantly.
The automotive industry of Cyprus, 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 2017 sales improved a little with volume at 14.822 (+0.4%), while growing 15.1% in 2018, closing with 14.731 units sold. In 2019, the market embarked on a negative pathway, reporting sales down a disappointing 17% with 12.220 units sold.
After starting the year with a positive trend (+14.2%), the market quickly collapsed in March as the virus struck. The sharpest drop in sales this year was in April when sales declined by 84.1%. In the following months, the market recovered reaching +14.1% in August. The last months of the year were characterized by a mixed trend, but the year ended with December sales down 21.4%.
Full-Year sales for 2020 have been 10.061, reporting a 17.7% decrease compared to 2019.
Brand-wise, this year the leader Toyota (+4%) gained 2.1% market share, followed by Kia (-7.4%), which gained 0.5% share. Nissan on the other hand lost 0.4% share, falling 14.6%. Volkswagen lost 13% sales, followed by Hyundai (-5.5%).
Mercedes -up 2 spots- gained 7.4%, followed by BMW (-23.2%) and Renault (up 7 spots) which gained 51.9% sales. Closing the leaderboard we have Audi -up 3 spots- losing 8% this year and Land Rover rising 1 position and losing 10.3%.
The most sold model in the country is the Kia Stonic with 444 sales (+2.3%), holding 4.4% market share.
Tables with sales figures
In the tables below we report sales for top 10 Brands and top 10 Models.