Recently, certain changes have been observed in prices and demand in the automobile market. Although there has been an increase in the prices of some foreign and domestic models, there are also certain discounts and campaigns available in the market. So far, the market has not fully revived, and a stagnant situation is felt, but as the spring season approaches, a slight revival in sales is possible.
Regarding the issue, economist expert Razi Abasbeyli told Demokrat.az that the current situation in the automobile market is characterized by seasonal stagnation.
"In the winter months, both entrepreneurs' and citizens' potential to buy automobiles decreases, which is considered a norm accepted worldwide. Towards the spring months, there is certain activity in the market, but it is not yet high."
The expert stated that other reasons for the stagnation in the market include the decrease in the number of imported vehicles.
"Especially, the additional value tax and excise customs duties imposed on hybrid and electric vehicles imported from China have slowed down imports. The price of diesel fuel approaching that of gasoline has reduced interest in diesel engine cars, and sales in this segment have decreased significantly. As a result, the observed decreases in the import of hybrid and diesel cars have caused stagnation in the market. Nevertheless, interest in second-hand cars is increasing. A revival has been observed in the sales of traditional brands compared to the last six months. At the same time, the sale of old and unusable cars that will be directed to recycling has also created activity in the market. According to the established rules, this process has started in many districts of the country, and the recycling market has expanded considerably, which has a positive impact on the market."