Offers on Baku's automobile market up in May

Business Materials 29 June 2009 13:04 (UTC +04:00)

Azerbaijan, Baku, June 29 / Trend , U.Ismayilova/

Offers on the automobile market in Baku increased 1.5 percent in May compared to April, the Participants of Estate Market public organization said on June 29.

"Despite growth of offers, demand decreased 3.4 percent on the market due to non-seasonal period for the automobile market," the organization said.

An average price for cars on the market was $16,240 in May. This situation also affected an exposition term by one day to 90 days which led to rise in risks and drop in liquidity.

In May, over 6,300 cars were offered on the market of which only 35 percent were offered in May and the rest 65 percent remained on the market since previous months.

Under the results of the organization's monitoring, 80 percent of the market portfolio comprises world's 9 leading car brands (36.1 percent fall to Mercedes-Benz), and 19.9 percent of the portfolio comprises other 85 brands. 

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