NewsLocalCypriots turn to hybrid vehicles because of rising fuel prices

Cypriots turn to hybrid vehicles because of rising fuel prices

Hybrid vehicles in Cyprus have gained market share most probably because of the ever-increasing fuel prices, Philenews reported on Wednesday.

In fact, total sales of hybrid vehicles were 5,249 over the past 10 months compared to 3,788 the same period last year. That is, a 38.56% increase has been recorded.

The island’s latest-released Statistical Service data also shows that out of all sold hybrid vehicles 1,581 were used and 3,668 brand new.

As for electric cars, there were 662 registrations in the past ten months compared to 278 last year, recording an increase of 138.12%. One hundred of them were used ones and 522 brand new.

Moreover, the Ministry of Transport has already announced incentives for the purchase of an electric car.

This is a €30 million plan financed by the EU Recovery and Resilience Fund and expires in 2025.

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