Turnover Value Index in Motor Vehicles up by 15.7% in Q12024

07:47 - 26 June 2024

Economy Reporter

The Turnover Value Index of Sales and Repair of Motor Vehicles recorded an increase of 15.7% compared to the corresponding quarter of the previous year, according to data released by CySTAT.

Motor vehicle sales increased by 20% in the first quarter, compared to the first quarter of 2023, vehicle maintenance and repair increased by 11.2% and the sale of motor vehicle parts and accessories recorded an increase of 8.4%. On the other hand, the sale, maintenance and repair of motorcycles and their parts and accessories recorded a 10.7% decrease, compared to the same period in 2023.

Increase in Turnover Value Index of Wholesale Trade

The Turnover Value Index of Wholesale Trade, during the first quarter of 2024, also recorded an increase of 3.2%, compared to the corresponding quarter of the previous year.

The largest increase was recorded in non-specialised wholesale trade with 18.5%, followed by wholesale trade of information and communication equipment with 15.4%.

The largest decrease, 26.7%, was recorded in wholesale trade in agriculture raw materials and live animals.

(Source: CNA)

Turnover Value Index in Motor Vehicles up by 15.7% in Q12024

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