Prices slightly decrease in Baku's car market
Baku, Azerbaijan, March 12
By Anvar Mammadov - Trend:
The average price in the car market of Baku was 22,208 manats in February 2018, Nusret Ibrahimov, director general of the MBA Group consulting company and real estate expert, told Trend on March 12.
He said the average price in the car market decreased by 1.83 percent in February compared to the previous month.
In February 2018, 2,163 cars were put up for sale in the automobile market of Baku, he added.
"The portfolio of offers in the car market grew by 7 percent compared to the previous month. The majority of cars offered for sale - 88.2 percent are cars with gasoline engine. The average price of cars of this category was 21,343 manats. Diesel cars made up 11.8 percent of the proposals; the average price of such cars was 28,682 manats. The share of cars with automatic transmission was 64.4 percent, with an average cost of 29,669 manats. The share of cars with a manual transmission was 35.6 percent, with an average price of 8,709 manats," Ibrahimov said.
Ibrahimov said the average mileage of cars in the market in February 2018 was almost 182,170 kilometers, with a decrease by 2.9 percent over the month. The average age of cars was 13.3 years.
Touching upon the decline in prices in the market, the expert noted that this can be explained by correction of prices after a sharp price increase in January 2018.
"In January, the average price in the Baku car market increased by 20.39 percent. Usually after a sharp increase in prices, they gradually stabilize and a correction occurs," the expert said.