Car market in Georgia experiences a crisis - Sales stop


April 7, Fineko/abc.az. The emergency situation with the coronavirus epidemic in Georgia, border closing and general quarantine have led to a deep crisis in the local car market.

ABC.AZ reports that this is written on the Georgian portal Commersant.ge. According to the portal, car dealers think the situation is going to get even worse. In their opinion, at present, when the population makes a choice between everyday products and cars, it is natural that the vast majority prefer the former and postpone the purchase of cars for the future. Along with the car market, online sales have also decreased by 50%.

Despite the fact that car prices remain unchanged, potential buyers avoid buying cars due to the current situation and focus their financial resources on other vital areas.

Car sales are the number one export product in Georgia. For Jan-Feb 2020 the country exported passenger cars worth $99.6 million, which accounted for 18.9% of total exports. During the reporting period Azerbaijan accounted for 61% of exports.