A significant sign of a rise in the rate of car sales has been registered for the first time since 2008.
The total number of newly registered vehicles has risen 20.9% in the first six months of 2014 up until June reaching 11,190 cars in relation to 9,256 cars the same period last year.
However, 5,968 of these cars were imported second hand cars from other countries. Private saloon cars increased to 8,414, from 6,627 in the time period January–June 2013 which reflects a 27% increase.
Some 4,019 saloon cars, or 47.8%, were new and 4,395 vehicles, or 52.2%, were used cars.
Registration of good conveyance vehicles increased 12.1% to 936 in 2014, compared to 835 in 2013.
Moreover, light goods vehicles increased 16.5% to 789 from 677 in 2013 whereas heavy goods vehicles decreased from 113 to 90 (22.9%).
A slight increase in road tractors has been seen as the number has risen to 56 from 40 in the six month period of January-June 2014 compared to the same six month period the previous year.
Mopeds under 50cc increased 2.6% to 120 in January-June, compared to 117 in January-June 2013.
Motorbikes over 50cc jumped 27.5% to 1,072 in January-June compared to 841 in 2013.
Data for 2014 shows a positive outcome regarding vehicle and motorbike sales in relation to 2013 which was the worst year regarding car sales since 1999.
However, this does not mean that the market is in a better situation than previous years due to the fact that car registrations have fallen from 35,116 in 2008 to 11,190 in 2014 which means this year is only at 31% of 2008 levels.
This will have a negative impact on government revenue if sales continue to lag.
Road tax reminder
Motorists have until August 9 to pay their road tax for the second half of 2014.
The Road Transport Department (RTD) is reminding that once this date passes traffic police officers will begin checks and anyone who has not complied with the law will face a €30 fine plus 10% of the cost of their annual road tax.
Only drivers with a valid MOT certificate and insurance can renew their road tax.
While the RTD will not be accepting late payments it will be offering car owners the chance to pay their road tax via installments if they do not have the means to settle the payment outright.
For more information on road tax installments or to pay the fee online visit the Road Transport Department website at http://rtd.mcw.gov.cy. Payments can also be made at any commercial bank.