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Liquidity of car market reduces in Baku

Business Materials 20 February 2009 18:06 (UTC +04:00)

Azerbaijan, Baku, Feb. 20/ Trend U. Ismayilova/

Proposals reduced 4.1 percent on Baku car market in January. Despite it, demand increased 0.6 percent on the market, Property Market Participants public organization said on Feb. 20.

"Purchase-sale car operations reduced 0.7 percent on the car market in January," the organization said.

Average prices reduced five percent - to $17,500 on the market. Prices for cars greatly reduced 6.5 percent on the initial market, on the second market - five percent.

Term of cars exposition increased four days - to 79 days in January. As a result it increased risk and reduced liquidity level on the market.

Roughly 6,500 cars were offered on the market in January. Thus, 37 percent was initially offered on the market, the rest 63 percent remained on the market from previous months. Such situation on the market occurs because of impact of the world financial crisis, experts of the organization said.

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