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Pessimistic forecast for the future of Azerbaijan’s car market

06.04.2020,12:28


April 6, Fineko/abc.az. It will be difficult to return to the previous volume of car sales in Azerbaijan, news agency ABC.AZ was stated by expert Eldaniz Jafarov, when commenting on the situation in the automotive market during the coronavirus crisis.

He noted that the car market, which has been on the decline since last year, will decrease slightly in 2020 due to the coronavirus panic.

According to Jafarov, the automobile market is currently stagnating. The expert believes that the increase or decrease in prices is also not observed: "Prices are stable. No sales activity. In countries that offer favorable credit conditions for consumers, sales will resume. But it will be difficult to return to the previous volume of car sales in Azerbaijan, as the existing financial and credit conditions and high fees do not allow flexible marketing. With the announcement of the quarantine situation, car salons were forced to stop their activities. To restore sales in the same order, official dealers will work with a loss for some time. State support is needed here. I think the government should give certain benefits to these companies."