Cyprus 2017. Auto market keeps momentum

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Cyprus Auto Market in the 2017 has maintained the momentum following the last three years growth while the country puts its economic crisis firmly behind it. Ford is market leader ahead of Toyota and Nissan

Cyprus economic growth likely moderated in Q4 from the near one-decade high logged in Q3. The tourism sector nevertheless continued its strong performance in Q4; for 2017 as a whole, it registered a double-digit growth rate. Data also showed that unemployment continued to decrease throughout Q4. However, the economic sentiment index worsened in December; both business and consumer confidence dropped.

The automotive industry, one of the smaller with 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%).

Sales 2012Sales 2013Sales 2014Sales 2015Sales 2016Sales 2017Sales 2018 e
Car10.9817.1028.27610.34412.83912.78917.655
LCV1.2939091.1501.4431.9232.03349
Total12.2748.0119.42611.78714.76214.82217.705
2012 Var2013 Var2014 Var2015 Var2016 Var2017 Var2018 var e
Car-24,5%-35,3%16,5%25,0%24,1%-0,4%38,1%
LCV-46,1%-29,7%26,5%25,5%33,3%5,7%-97,6%
Total-27,6%-34,7%17,7%25,0%25,2%0,4%19,4%

At brand-wise, the best light vehicles brand (including LCVs) was Ford with 2.230 (+2.0%) and 14.8% of market share. In second place Toyota with 1.841 units (+37.6%) followed by Nissan  with 1.619 units (-11.9%)

Rank 2017Rank 2016BrandSales 2017Sales 2016Variation 2017Share 2017Share 2016
11Ford2.5342.18615,9%15,9%15,8%
22Nissan1.9851.8388,0%12,5%13,3%
34Toyota1.6831.33825,8%10,6%9,7%
43Volkswagen1.5531.4616,3%9,8%10,6%
55Kia1.3481.10222,3%8,5%8,0%
66Mercedes83571816,4%5,2%5,2%
77BMW78270411,1%4,9%5,1%
811Hyundai71850542,2%4,5%3,6%
99Honda64652323,5%4,1%3,8%
108Renault593600-1,2%3,7%4,3%
1112Audi49939825,5%3,1%2,9%
1210Land Rover428507-15,7%2,7%3,7%
1314Suzuki37330920,8%2,3%2,2%
1413Volvo3373186,0%2,1%2,3%
1515Opel25321119,7%1,6%1,5%
1616Peugeot2062022,2%1,3%1,5%
1717Mazda20617716,6%1,3%1,3%
1818Citroen20216324,2%1,3%1,2%
1919Porsche18015317,6%1,1%1,1%
2018Fiat1721635,6%1,1%1,2%
2124Jaguar6424166,7%0,4%0,2%
2226Mitsubishi5116218,8%0,3%0,1%
2322Seat433910,3%0,3%0,3%
2421Mini4045-11,1%0,3%0,3%
2524Lexus362450,0%0,2%0,2%
2625Maserati351894,4%0,2%0,1%
2730Jeep33-
2820Skoda3050
2930SsangYong14-
3027Smart1311
3123Dacia1030
3229Subaru84
3330Nox6-
3428Alfa Romeo25
3430Lamborghini2-
3530Ferrari1-
3530Hummer1-
Rank 2017Rank 2016Sales 2017Sales 2016Variation 2017
16Ford Focus63046535,5%
27Hyundai Tucson59538156,2%
33Nissan Qashqai551663-16,9%
45Toyota Yaris5375271,9%
585Toyota C-HR478
64Ford Fiesta477647-26,3%
78Kia Rio45935429,7%
810Kia Sportage39031125,4%
92Volkswagen Golf327776-57,9%
1020Volkswagen Tiguan29019251,0%