Demand for cars in Georgia predicted to decrease
BAKU, Azerbaijan, May 18
By Tamilla Mammadova – Trend:
Demand for cars will decrease by 25 percent due to lower exports and local demand in Georgia, Trend reports citing the report entitled “The Impact of COVID-19 on the Georgian Economy” of TBC Capital at Georgian TBC Bank.
According to the report, the sale of cars will be restored from May 2020.
The depreciation of the lari and the deterioration of expectations are additional factors in reducing the sales of cars, said TBC Capital.
“The decline in exports will have a negative impact on local car services. Local sales of machinery and trucks will remain relatively stable amid expected infrastructure costs,” report said.
As reported, due to the fact that the fleet is full of old cars, in parallel with the abolition of restrictions, the demand for car services will recover.
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