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Expert: Rising prices to lower demand for diesel-powered cars

07.01.2021,15:11


January 7, Fineko/abc.az. After the rise in prices for gasoline and diesel fuel in Azerbaijan, the country began to panic because of the increase in prices. So, there is a possibility that the increase in gasoline prices will affect the prices of food and other goods. But how will this affect the automotive market? We asked this question to expert Eldaniz Jafar.

The expert told ABC.AZ that the increase in prices for gasoline and diesel fuel should not affect other industries.

But in the old days, there was such speculation.

Jafar said that some entrepreneurs raise prices under the pretext of rising fuel prices: "Today, such artificial price hikes are already being prevented. Both state bodies and the public itself should keep this issue under control. The government has already stated it will provide assistance in some important spheres. The increase in gasoline prices will affect the segmentation of the automobile market in Azerbaijan. That is, the demand for cars with a diesel engine will decrease. Preference will be given to cars with lower gasoline consumption.

Demand for hybrid cars will also grow. And interest in electric cars will already grow. As for the state of the automotive market as a whole, global production and the market itself have declined. But optimistic forecasts are that the production of new specification cars will revive the market. Manufacturers have already started to produce eco-friendly, resistant to customs and tax duties models with small engines. 2021 will be a turning point in the automotive industry. This year, the machine manufacturing industry will enter a new era."