Changes of Azerbaijan's car market in August 2019

Business Materials 26 September 2019 20:08 (UTC +04:00)

Baku, Azerbaijan, Sept. 26

By Matanat Nasibova - Trend:

In August this year, the average price of cars in Azerbaijan’s car market amounted to 50,795 manats, Director of the MBA Group consulting company Nusrat Ibrahimov told Trend.

“In August this year compared with July, the price increase in this market amounted to 2.3 percent,” he noted. “In August compared with July this year, there was no increase in prices for cars with a big engines, while prices for cars with small engines increased by about 3 percent. At the same time, just like in the previous month, there was a decline in interest in diesel cars, due to certain problems related to high maintenance and repair costs.”

The expert said that the price growth of up to 1.23 percent was observed for the reporting month for cars with zero mileage.

“Prices for cars with high mileage remained unchanged, just like in the previous month,” he added. “Moreover, the increase in prices in this market segment was caused by the increase in the excise tax rate on car imports, which came into force in January 2019.”

Ibrahimov said that cars with big engine capacity, the prices of which are much higher, will become cheaper in the coming months.

The expert believes that compared with last year, a slight decrease in activity is observed in the car market.

“The supply in the car market significantly exceeds the demand,” he said.