Cyprus 2014. Market finally up after 5 years

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Cyprus car market
Nissan-Qashqai_2014

Cyprus car market in the 2014 has broken the five years decline with a shy recovery on the previous year. The market stands at almost low-level, one-third below the 2008 volume. Toyota become market leader outpacing Nissan.

Introducing Cyprus

Cyprus is far more than a lazy beach-time resort; the island is multilayered, like its history, with a compelling culture, lifestyle and landscape, overseen by warm, hospitable people.

Experiencing Cyprus’ intrinsically different Greek and Turkish societies is increasingly easy, with seven access points linking the Greek Cypriot and Turkish Cypriot sides, including two pedestrian crossings in Nicosia (Lefkosia). There is something evocatively appealing about dipping into two very different cultures so effortlessly.

Economic Outlook

Cyprus emerged from recession in Q1 and the pace of recovery strengthened in Q2.

The economy grew 1.2% annually in Q2, which marks the largest expansion in over four years and suggests that harsh reforms are beginning to bear results.

In August, the Cabinet approved legislation which brings the privatizing of the telecom provider CyTA one step closer. The approval of the bill forms part of the requirements of Cyprus’ bailout program with its international creditors.

Market Outlook

The vehicles market of Cyprus in the last years has mirrored the economic reality experienced by the country with a rapid development in the period 2004-2008, a sharp fall in 2009 with a series of declining years  until the 2013.

Full year volume hit the 27.533 units in the 2008 to decline at 8.011 in the 2013.

In the 2014 a shy recovery was in place with sales grew at 9.423 units.

The market leader was Toyota with 1.098 sales and a share of 13.2% overtaking the former leader, Nissan, declined in second place with 1.066 units and 12.8% of market share. Third was Kia with 623 sales.

The Nissan Qashqai was the best selling model ahead of Toyota Yaris and Ford Fiesta.

Below, you can sort our interactive tables to see data regarding Brands, Groups and Models. Please bear in mind that sales data are subject to adjustments as sources will update their information. This report is updated at the publishing date and will not be modified while the next on this subject will always have the year to date data updated.

Rank 2014Rank 2013BrandSales 2013Sales 2014Share 2014Share 2013
12Toyota8491.09813,2%12,0%
21Nissan9481.06612,8%13,3%
34Kia5946237,5%8,4%
45Volkswagen5185907,1%7,3%
53Ford6954845,8%9,8%
616Land Rover1044705,6%1,5%
76Mercedes4594695,6%6,5%
87BMW3814665,6%5,4%
98Renault2953544,2%4,2%
1012Honda1823263,9%2,6%

Rank 2014Rank 2013ModelSales 2013Sales 20142014 Var.Share 2013Share 2014
12Nissan Qashqai3783954,5%5,3%4,7%
23Toyota Yaris34638411,0%4,9%4,6%
31Ford Fiesta407320-21,4%5,7%3,8%
44Volkswagen Golf25028815,2%3,5%3,5%
535Volvo XC6055276401,8%0,8%3,3%
636Land Rover Range Rover Evoque52252384,6%0,7%3,0%
76Kia Sportage2332476,0%3,3%3,0%
815Honda CR-V110239117,3%1,5%2,9%
936Toyota RAV452224330,4%0,7%2,7%
1036Land Rover Range Rover52218319,2%0,7%2,6%