Azerbaijan’s car market slightly increases in November

Business Materials 10 December 2013 17:26 (UTC +04:00)

Baku, Azerbaijan, Dec. 10

By Emin Aliyev - Trend:

Car sales in Azerbaijan increased in November, the Property Market Participants public organization said following the monitoring of Baku's car market on Monday.

Growth in demand has affected prices in the car market. The average car price increased 1.6 percent to 16,250 manats (about $ 20,719.) in November compared to the previous month, according to the report.

"The growth of dynamics in November did not affect the car exposition term, which remained unchanged compared to October and hit 42.2 days," the organization said.

The organization monitored 14,000 cars on the secondary car market in November. Around 20.4 percent were presented on the market in November, while 79.6 percent remained from previous months. The mass flow of used cars on the market has significantly dropped since early 2013.

Mercedes cars have held a leading position on the secondary market for a long time. But their supply decreased by 1.7 percent in November compared to October. The share of these cars on the market is 35 percent, the report says.

There was a decrease in supply of nine main models forming a portfolio of offerings on the market in November. The largest reduction was observed on VAZ (Russian) cars - 3.7 percent.

Around 86.7 percent of the market accounts for nine car models, while the remaining 13.3 percent accounts for more than 80 car models of over 20 manufacturers.

Translated by NH

Edited by CN