Azerbaijan increases car production

Transport Materials 22 January 2020 11:39 (UTC +04:00)
Azerbaijan increases car production

BAKU, Azerbaijan, Jan. 22

By Nargiz Ismayilova - Trend:

Last year, 2,360 cars were produced in Azerbaijan, which is 1.8 times more than in the same period of 2018, Trend reports referring to Azerbaijan’s State Statistical Committee.

The total production volume of cars, trailers and semi-trailers in Azerbaijan in monetary terms amounted to 315.5 million manat ($185.5 million) showing an increase of 10.6 percent over the year, according to the report.

Azerbaijan imported 36,061 cars totaling almost 475 million manat ($279.4 million) including 3,261 trucks worth 54 million manat ($31.7 million), with an increase of 1.7 and 1.9 times, respectively and 494 buses worth 68.7 million manat ($40.4 million, or an increase of 2.1 and 5.5 times, respectively).

In 2018, a new automobile plant that produces cars under the Khazar brand started operating in Azerbaijan. This has led to a significant increase in car production in the country. The Nakhchivan Automobile Plant also operates in Azerbaijan, where Chinese Lifan cars are assembled, as well as the Ganja Automobile Plant, on the basis of which tractors, agricultural machinery, as well as several models of trucks of Belarusian and Russian companies are produced.

According to the Azerbaijani government forecasts, car production volume in 2020 will be 56 million manat ($32.9 million), in 2021 - 85.3 million manat ($50.1 million), and in 2022 - 113.3 million manat ($66.6 million).

Azerbaijan plans to gradually increase the production of cars to 7,000 units per year. In 2020, their number will grow to 2,000 units, in 2021 - to 3,500 units, in 2022 - to 5,300 units and, finally, in 2023 - to 7,000 units.

($1= 1.7 manat on Jan. 22)