AZE.US
Azerbaijan’s used car market remains sluggish despite the summer season, when activity would normally increase.
Sellers say the market has been experiencing weak demand for several weeks, with many vehicles repeatedly brought to weekend markets but left unsold.
Market participants largely attribute the slowdown to changing consumer preferences. More buyers are turning to electric vehicles, while interest in used gasoline-powered cars has declined.
Large-engine vehicles are proving especially difficult to sell. In Baku, traffic congestion and rising fuel costs are pushing drivers toward more economical cars, particularly models with engines of around 2 liters or less.
The strongest demand is currently for vehicles priced between 13,000 and 15,000 manats, or about $7,650 to $8,820. Sellers say, however, that relatively few suitable cars are available in that price range.
Some owners said they had taken their vehicles to the market for four consecutive weekends without finding a buyer.
According to traders, many of the remaining buyers come from regions outside Baku. In the capital, demand is increasingly concentrated on electric vehicles.
Sellers summarized the current situation simply: there are plenty of cars on the market, but very few buyers.
AZE.US