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Azerbaijan sees growth in car market

01 August 2013 10:18 (UTC +04:00)

According to Property Market Participants PU, growth tendency of supply on used cars decreased in June. Number of applicants to sale centres and closed deals increased. Though the supply declined, it exceeds demand: “Increase of demand and change of dynamic toward positive did not influence average price. Average price for June rose 1.6% to AZN 16,460 from AZN 16,200. Growth of dynamic caused decline of duration of exposure by 1.2% to 40.7 days”.

Only 21.4% of nearly 15,000 cars was offered to market in June: “Tendency on mass flow of used cars dropped. Though the share of Mercedes Benz in supply slipped 1.4% in comparison to a month earlier, its share in total portfolio made 35%. In general, the supply decreased on most of 9 types of car. Most reduction was recorded in VAZ cars (3.7%)”.

Share of 9 brands on supply made 86.7%.