In a very successful market entry, the Chinese car company BYD has become the top seller of electric vehicles in Cyprus in just five months. Official numbers show the company now holds one-third of the market for fully electric and plug-in hybrid cars. This fast rise happened at the same time as the government made its consumer subsidies simpler to get. The situation shows a major change is happening on the Mediterranean island, where many more people are now buying electric and hybrid cars.
The background to BYD's success is that Cyprus is switching to electric cars much faster than before. According to recent data, registrations for fully electric cars grew from 3.8% to 4.8% in the first ten months of this year. Even more impressive, hybrid car registrations jumped from 36.7% to 44.1%. This strong consumer interest created a perfect opportunity for new companies like BYD, which offers competitive cars.
BYD's launch was carefully planned with its local partner, the Alpan Group. Since starting in mid-2024, BYD has registered 168 vehicles. A key part of its strategy was having cars ready for immediate purchase. This allowed customers to buy quickly and apply for government grants without long delays.
These government incentives have been very important. The Transport Ministry recently started a new, simpler online system for purchase grants. In the new system, people get confirmation of their grant after they register the car, which is much faster than the old rules. Along with a direct bonus from the Alpan Group, these incentives make models like the BYD Dolphin Surf very affordable, with a possible price below €12,000.
Christina Gikaki, BYD Cyprus's marketing manager, said that building a complete system is crucial, not just selling cars. “We’re talking about renewable energy, energy storage, and charging infrastructure,” she explained. She also argued that government policy needs to be stable. “Long-term incentives are vital. Constant changes to subsidy schemes reduce consumer trust and slow the market.”
BYD's rapid success has changed the market. It shows how a fast launch with good prices can use growing demand and helpful policies. For Cyprus, this new competition and easier subsidies should encourage more people to choose electric cars. However, for this growth to continue, the country must also build reliable charging stations and maintain steady government support. This will ensure people remain confident as the technology advances.