Proposals for Baku automobile market jumps by more than 10%

Business Materials 28 January 2011 19:13 (UTC +04:00)

Azerbaijan, Baku, Jan. 28 / Trend U.Ismayilova /

The NGO Participants of the Property Market held expert monitoring on automobile market activity in Baku in December 2010. The market observed 10.9 percent increase in proposals at the expense of the old cars, the organization reported.

The NGO observed a sharp excess of proposals over real demand, and it reached its highest level in recent years.

The average price of vehicles fell by 0.7 percent compared to the previous month and amounted to $15,102.

Passivity, which is observed on the market in December, led to an increase in exposure period cars. The liquidity ratio also reached the lowest level in three years.

About 15,900 car were examined on Baku's secondary automobile market in December -- only 15.8 percent were offered in December, and the remaining 84.2 percent in recent months. This is linked with a decline in imports, a decrease in purchasing capacity and a sharp drop in demand.

The mass flow of old cars on the market in Azerbaijan continued in December, resulting in a higher fixed rate deals.

The share of the German Mercedes-Benz, the Baku automobile market leader for the past three years, increased by 8.6 percent to 34.5 percent in December.

The share of the nine most popular brands accounted for 85.5 percent of the market, the remaining 14.5 percent - for 80 marks more than 20 auto companies.