automotive sector vehicle trade

Cyprus Experiences Significant Growth in Automotive Sector

In 2023, Cyprus experienced significant growth in its automotive sector, with a 30% rise in trade and repair activities, a 42% increase in motor vehicle sales, a 12.3% uptick in maintenance and repair, and an 11.8% surge in parts and accessories sales. The motorcycle market also saw a remarkable 24.5% increase, reflecting a shift towards more economical and agile transportation options amidst economic flux.