Increase in supply observed in Baku's car market in July
Azerbaijan, Baku, Aug. 24 /Trend, A.Akhundov /
The supply in Baku's car market in July increased by 33 percent reaching the highest level during the year, "Property Market Participants" public organization said.
According to the information, the tendency of exceeding supply over actual demand further strengthened. During the month, prices fell 0.7 percent, the average price of a car on the market amounted to $15,010.
The organization monitored the secondary car market in July. More than 13,800 cars were monitored, of which 18 percent were represented in the market in July and 82 percent remained from the previous months.
The supply of Mercedes increased by 36.5 percent in July compared to May. The share of cars of this brand in the market is 31.1 percent. About 86.1 percent fall to the share of nine cars in the portfolio of the market, the remaining 13.9 percent fall to more than 80 brands of over 20 car companies.
Experts think that although the main part of cars offered to the car market fall to old cars now, the cars produced after 2003 will have advantage in the nearest future.
The monitoring group's research covered 1990-2011.