Car sales falling sharply amid COVID-19 pandemic in Georgia
BAKU, Azerbaijan, July 10
By Tamilla Mammadova - Trend:
Georgia’s car sales fell drastically amid the pandemic and did not increase after the country had lifted quarantine restrictions, said CEO of Caucasus Auto Import CEO Giorgi Surguladze, Trend reports citing Georgian media.
"Re-export was completely stopped because of the border closure, incomes of the population due to the economic downturn decreased, and devaluation of the national currency significantly reduced the demand for any goods that are not vital, he said.
"Cars were mostly re-exported and now this segment is completely closed. The business will not recover until the borders are opened and transport links with neighboring countries are restored," Surguladze noted.
However, the prices have not fallen in anticipation of the imminent opening of borders, he added.
Re-export of cars significantly decreased in the structure of Georgian exports from January through April 2020, according to National Statistics Office of Georgia (Geostat).
In April 2020, re-export of cars amounted to 355 units, while in April 2019 - to 6,033 cars, showing a decrease by 94 percent, said the committee.
The import of cars also decreased, amounting to 1,100 units in April 2020 comparing to 5,712 in April 2019.
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