Baku Automobile Market Increases for First Time over 2 Months
Azerbaijan, Baku, 11 November / corr Trend U.Ismayilova / In October 2008, supply increased by 20% at Baku automobile market as compared to 17.3% in September after two-month reduction, which was caused by problems in transportation, a well as elimination of illegal sale centers of automobiles, the Participants of Market of Property public organization said.
Market movement is first of all connected with seasonal period, the organization's experts said. Although, the market became more intense, it did not influence on prices. An average price of the automobile is $21,000 as it was over previous two months.
In October, demand for automobiles increased by 4.5%. A number of operations on purchase and sale of automobiles also increased by 5.2%. In spite of all these changes, a exposition term of automobiles did not reduce in the market, but increased by two days to 66 days, which, in its turn, results in increase of risk and reduction of liquidity of cars.
In October, about 6,000 automobiles were offered at Baku automobile market. In October, 40% of cars were offered in the market, while the rest 60% were left in the market from previous months.
Mercedes-Benz German branded automobiles have remained to be leaders in the Baku automobile market over two years. However, in September, the share of these cars in a portfolio of market reduced by 13.4%. In October, their share increased by one and a half. The share of Mercedes-Benz constituted 34.7% in the portfolio of market, which is 46% less than at the beginning of year.
According to the results of monitoring, customers prefer new cars lately, and in this connection demand for Mercedes-Benz branded cars of 1990-1998, which is the majority in the secondary market, dramatically reduced.
The automobiles of BMW brand occupy the second place in the Baku automobile market for the level of demand and the automobiles of Opel brand the third place.
The number of owners of automobiles, preferring cars of off-road type, also increased in Baku, holding 26.2% in the market.
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