Sales volumes of Khazar cars in Azerbaijan revealed

Business Materials 26 December 2018 12:25 (UTC +04:00)

Baku, Azerbaijan, Dec. 26

By Sara Israfilbayova - Trend:

Since the beginning of sales, since June 2018, almost 1,000 Khazar cars produced in Azerbaijan’s Neftchala district have been sold, Emin Akhundov, chairman of the Board of AzerMash OJSC, one of co-owners of the Khazar plant, told Trend Dec. 26.

He noted that next year the company will start supplying cars to Russia and Ukraine.

“Our cars are in high demand in the domestic market, and they are quite competitive,” said Akhundov. “I think that this demand will grow in the coming years as well.”

The Khazar car plant is located in southeast Azerbaijan in the Neftchala Industrial District. All cars produced there comply with Euro 5 standards.

On Aug. 6, 2016, a major Iranian automaker Iran Khodro and Azerbaijani company Azeurocar, a subsidiary of AzerMash, signed an agreement to establish a joint automobile factory in Neftchala. The total cost of the project is estimated at 24 million manats. The Azerbaijani side invested 75 percent in the factory, and the Iranian side invested 25 percent.