Seasonal passivity observed on Baku's secondary car market in February

Business Materials 19 March 2010 13:37 (UTC +04:00)

Azerbaijan, Baku, March 19 / Trend U. Ismayilova /

In February, there was seasonal passivity on the secondary car market of Baku. The statement by the government to apply restrictions on the import of cars not corresponding with standards Euro-2 from July 1, aggravated the situation, the social organization 'Property market participants' said.

The dynamics of transactions on purchase and sale of cars in February, reduced by 1.9 percent, the organization said. However, representatives of the organizations stressed that the earlier seasonal decline in transactions was not more than 0.5 percent.

The average price of a car amounted to $15,380 last month.

The liquidity ratio of automobiles has reached the lowest level for 3 years.

Last month, the market proposed more than 7,700 vehicles, only 44.9 percent were offered to the market in February, the remaining 55.1 percent of cars from the previous month.

In early March the Azerbaijani Cabinet of Ministers agreed on arrangements to bring requirements on air emissions of hazardous substances by road transport, used in Azerbaijan (import and production in the republic) in accordance with European standards. According to the decree, ecological standard Euro-2 (emission of pollutants) will be applied to the cars from July 1, 2010.