Azernews.Az

The demand for cars has been rising in Azerbaijan in recent years, with 22,000 to 25,000 vehicles sold in the country every month, a local group estimates.
The rising purchasing power of clients looking to buy foreign cars has boosted the number of such vehicles delivered to the country. Whereas three years ago, persons willing to buy new cars accounted for only 2-3% of the overall number of buyers, the figure now ranges between 20% and 25%, according to Real Estate Market Participants.
The development has prompted a rapid increase in the number of car dealerships being opened in Azerbaijan. The number of official representations of carmakers has reached 20, while that of sales centers - 80, compared to just 4-5 representations operating just one dealership each in 2005. The surge is due to a high demand for cars in the domestic market.
The rising activity in the primary market has considerably boosted the dynamics of the overall market. The prices for vehicles put up on sale there run up to $250,000. If the tendency continues, more expensive cars may be delivered to the country as of the third quarter of 2008.
The research showed that there is more activity in the secondary market. The most popular used cars were selling for $17,000 to $24,000 in February. German-made vehicles were the top three brands that enjoyed high demand. Mercedes Benz holds up to 45% market share, followed by BMW with 12% and Opel with 8.5%. Toyota holds a 5% share, followed by Nissan and Hyundai with 4.4% and 4% respectively.
100 other brands of over 30 automakers account for the remaining 20% of the market.