Azerbaijan sees decline in number of car buyers

Azerbaijan sees decline in number of car buyers
# 30 August 2013 12:55 (UTC +04:00)

Baku. Agshin Rafiqoglu – APA-Economics. According to results of monitoring of the Property Market Participants PU in July, the dynamics decreased in the market.

The growth tendency of supply on used cars decreased in July. Number of applicants to sale centers and closed deals decreased. Though the supply declined, it exceeds demand. Decrease of demand and change of dynamic toward negative did not affect the average price. Average price for July remained unchanged at 16,460.

Growth of dynamic caused increase of duration of exposure by 1.7% to 41.3 days

Only 21.0% of nearly 15,000 cars was offered to market in July: “Tendency on mass flow of used cars dropped. Though the share of Mercedes Benz in supply slipped 1.9 percentage points in comparison to a month earlier, its share in total portfolio made 35.0%. Most reduction was recorded in VAZ cars (3.7%)”.

Share of 9 brands on supply made 86.7%.

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