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Automotive Industry, Major Increase in Cyprus

Written by: Bridgewest

Automotive-Industry-Major-Increase-in-Cyprus.jpgForeign investors interested in the business market in Cyprus should know that the automotive industry offers very good prospects, as it is one of the main financial sectors which reported major sales in terms of exports. Businessmen who want to set up a company in the field of automotive production or distribution can receive an in-depth presentation on this market from our Cypriot company formation specialists, who can assist in various aspects related to the registration on a new business
 

Cypriot automotive industry 

 
The local economy is developing, as many sectors are presenting solid results in terms of financial gains. One of the most representative industries in this sense is the automotive segment, which reported a major increase of 20% for saloon car sales. The economic growth in the field was also reported for industrial engines, yachts and boats dedicated to leisure activities. 
 
A representative of an automotive group added that the industry benefits of an encouraging general climate, while the Cypriot economy is improving, determining the locals to buy more cars.
 
An important aspect of the automotive industry in Cyprus is that there is a tendency in buying high quality cars, sold by well known brands. 
The Cypriot market is represented by buyers who are interested in the brand name and in the customer support; our company formation consultants can provide you with more details on this subject. 

 

Automotive industry in 2016 

 
Although the sales generated in 2016 were registered for vehicles running on a traditional engine, the Cypriot market is also interested in hybrid and eco-friendly cars. As such, entrepreneurs who have set up companies in the automotive industry are advised to invest in green industries, as more and more automotive companies are developing electric engines, which became appealing to international markets. 
 
If you need further information on the automotive industry in Cyprus, our Cypriot company formation agents can provide you with more details in this sense. 
 

Comments

  • Andrew 2016-03-14

    Cyprus started recently to report financial gains; it is good to know that the automotive industry had these results.

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