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Car prices lose 20% in Azerbaijan this year

02 March 2007 10:50 (UTC +04:00)

According to the survey by APA-Economics, the prices of Mercedes 190, Mercedes C200, BMW, Opel, Jeep lost $300-$400 during this period while Russian-made VAZ 2107 descended $200.

Meanwhile, VAZ-2106 climbed up encouraged by reduced supply and the issue of 2007 reached $7,000-$7,500.

Automobiles	Issue	Prices at February, 2007 (USD)
Mercedes 190	1991-1993	7000-8500
Mercedes C180	1994	13 500
Mercedes C200	1997	14 000-15 000
Mercedes C 220	2000	15 700-16 000
Mercedes E200	1995	12 500 -13 000
Mercedes E300	1995	14 000- 15 000
Mercedes E 240	2000	19 500-21 000
Mercedes ML320	2000	30 000-35 000
BMW 236	1993	6 600-7 100
BMW 525 TD	1995	12 000-12 500
BMW 320	1997	13 000-13 500
BMW 525	1997	14 000-15 000
BMW 525	2000	16 500-17 000
Opel Vectra	1996	9 000-9 500
Opel Astra	1994	6 500-7 000
Opel Omega	1996	12 500-13 000
Toyota Prado	2004	33 000-34 000
Toyota Camry	1998	11 000-11 500
Volkswagen Polo	1995	5 900-6 300
Volkswagen Golf	1993	7 800-8300
Nissan Maxima	1997	9 500-10 000
Hyundai Accent	1995	5 000-6 500
Hyundai Galloper	1997	11 000-11 500
Jeep Pajero	1995	14 500-15 000
Jeep	1997	10 500-11 500
VAZ 2106	2004	4 500-5 000
VAZ 2106	2007	7 200-7 500
VAZ 2107	2007	6 900-7 100
TofaÅŸ Åžahin	2004	7 500-8 500
TofaÅŸ Åžahin	2007	10 000-10 200
VAZ 2115	2002	5 300-5 600
VAZ 21099	1999	4 300-5 000
VAZ 21099	2004	7 700-8 000
VAZ 2112	2002	6 800-7 500
VAZ 2112	2004	7 300-7 600

Market traders insist that the sharp fall in prices resulted from fuel price increase which notably affected demand for automobiles. It is expected the prices of gas-guzzlers will continue to decline and diesel cars to be stable or more expensive.
Azerbaijan Auto dealers Association President Natig Zerbaliyev told APA-Economics that the demand for economical cars is increasing.
Vugar Bayramov, Manager of Auto Kaukasus distributing Mercedes-Benz, Chrysler and Jeep in Azerbaijan, said the price fall in secondhand cars came from glut of the market with more-than-need imports amid fear that excise tax was effective January, 2007. He said traders imported a great number of cars in late 2006 and directly influenced the market while the prices are going to level off and this tendency will go on in summer too.
Mubariz Mammadov, Sales Manager of Kress GmbH- the official importer of Audi and Volkswagen-, said the market has been glutted with car imports whereas the demand for diesel fuel automobiles is gradually growing.
Rashad Asgarov, Sales Manager of Aztol, Volvo and Honda importer, also said the prices suffered from December imports and diesel fuel cars are likely to increase by the summer.
Elgiz Yusifoglu, Sales Manger of Euro Style Ltd, Volkswagen importer, said the period of January-February was a limping time for car market and is sure that firsthand nd secondhand cars prices will not go up within spring or summer and Volkswagen prices will remain stable by this yearâ€™s end.
Rashad Bayramov, Sales Manager of KrAz importer Alfateks, said the price decrease also resulted from the increasing interest in new and firsthand cars, adding that prices will probably be around stable for two years.
Elkhan Masimov, Sales Manager of Hyundai Auto Azerbaijan, said more than 45,000 cars were imported to the country last year and the supply remarkably exceeded the demand while the prices of the newly imported cars are stable.
Emin Babazade, Sales Manager of Chery Automobile Co. Ltd, said the fuel price rise in the country hit the car second market while no notable change is expected during spring and summer. /APA-Economics/