Supply in Baku car market increases

Business Materials 30 January 2012 18:52 (UTC +04:00)

Azerbaijan, Baku, Jan.30 / Trend A.Akhundov /

Supply in the Baku car market increased by 2.6 per cent in Dec, 2011, the public organisation Property Market Participants told Trend on Monday.

Despite the tendency of excess of supply over demand, increase in demand was observed in market compared to previous months.

The increase in demand and rise of dynamics in the market affected rise in the cost of cars in Dec. During this month prices increased by 1.3 per cent, the average car price amounted to $16,150.

"The growth of the market caused decrease of property exposure term by 1 per cent - to 44.6 days," the organization's experts said.

During December, 2011 the organization monitored secondary car market and subject of the research were over 13,500 cars, of which only 28.2 per cent were presented in the market in Dec. and 68.7 per cent remained from previous months. Mass flow of old cars to the market significantly decreased during last 5 months.

The supply volume of Mercedes cars, keeping a leading position in the secondary market, reduced by 1.4 per cent in December compared to November. The share of Mercedes cars in the market is 31.8 per cent.

About 83.7 per cent fall to nine cars in the portfolio market, the remaining 16.3 per cent fall to more than 80 brands of more than 20 auto companies.

Experts think that despite the fact that the share of old cars in the supply portfolio is big advantage in the market will go to cars of 2003 and next years' manufacture.