Baku, Azerbaijan, July 31
By Elchin Mehdiyev - Trend:
A certain activity is being observed in the car market of Azerbaijan after a long period of stagnation, expert on property issues Vagif Huseynov told Trend.
According to him, the purchasing power usually increases during the summer months as far as car market is concerned. As of now, buyers mostly prefer cars with a small engine capacity.
"Cars with an engine capacity of more than 3 liters are in very low demand. With this, a 5-10 percent decrease can be observed in prices for these cars, while prices for cars with a small engine capacity remain stable," Huseynov said.
He noted that the main reason for the rise in prices for cars with a small engine capacity during the last 3-4 years was the intensive growth in the number of taxi companies. People who previously did not have cars began to buy them in order to operate them as taxis, which facilitated the rise in prices for these cars.
“At present, the taxi market is already saturated, so there is a certain stability in prices,” Huseynov remarked.