Azerbaijani property expert says automotive market almost nullifed by COVID-19

By Trend
The coronavirus pandemic (COVID-19) has almost nullified activity in Azerbaijan’s automotive market and the online sales system, property market expert Vagif Huseynov told Trend on Apr. 28.
“The COVID-19 pandemic has affected all areas. There are sectors in the economy that continue to operate through online sales, but this is not possible in the automotive industry. When buying a car, it is first checked in services that did not work during the quarantine regime. In addition, many people are coming from regions to Baku to buy a car,” Huseynov noted.
“After the introduction of quarantine, entry and exit to the capital and movement between the country’s regions were limited; respectively, the number of people using private cars also significantly decreased. Therefore, interest in buying and selling cars was not observed,” he added.
The expert said that it is still too early to think about a significant revival in the country's automotive market in the near future, adding that economic activity has already begun to recover in Azerbaijan.
“Even if the situation fully stabilizes before mid-May, there will be no recovery in the automotive market in the next two months, because people will not make large purchases, preferring to save money. Some people will beware of the second wave of COVID-19, while others will be restoring their business. Therefore, there will not be much activity in this sector until September. As for prices, it is too early to say anything about this,” Huseynov added.
---
Follow us on Twitter @AzerNewsAz
Here we are to serve you with news right now. It does not cost much, but worth your attention.
Choose to support open, independent, quality journalism and subscribe on a monthly basis.
By subscribing to our online newspaper, you can have full digital access to all news, analysis, and much more.
You can also follow AzerNEWS on Twitter @AzerNewsAz or Facebook @AzerNewsNewspaper
Thank you!