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Serious changes expected in car market of Azerbaijan

02 July 2013 13:17 (UTC +04:00)

Baku. Nijat Mustafayev – APA-Economics. Monitoring group of Property Market Participants PU says that the dynamics in car market increased in May 2013.

According to PU, the tendency on increase of supply from old cars dropped in May. Number of persons applying to sale centers and closed deals increased during the month. However, the supply exceeds the demands. Average price in the market remained unchanged at AZN 16,200: “Increase of dynamic caused decrease of exposition period of the cars by 1.4% to 41.2 days”.

Only 22.3% of 15,000 cars was purposed to the market in May. Other 77.7% are the cars remained from previous months.

Share of Mercedes Benz in supply dropped 1.4 percentage point, but its share in total portfolio made 35%. Generally, most of reduction on supply were observed in VAZ cars. Mercedes Benz left behind other 9 cars marks. Share of these 9 marks made 86.7%.

Experts say that though there are many old cars in the market, in the near future the there will be cars produced after 2003.

Moreover, number of persons interesting in off roaders and universal cars. According to monitorings, interests for Russian cars reduced. Market share of these cars dropped to 6%, down 3.4 percentage point from previous year. However, prices of Russian cars on primary market rose 0.2%.