TODAY.AZ / Business

Car prices up

29 November 2018 [15:17] - TODAY.AZ

By Azernews


By Narmina Mammadova

A rise in prices for cars with a small engine was registered in Baku, general director of the consulting company MBA Group Nusret Ibrahimov told Trend.

The average price of cars with an engine with a volume of up to 2 liters was 17,483 manats, and compared with the previous month, an increase of 14.25 percent was observed, he said.

Ibrahimov noted that the price of cars with an engine with a volume of 2-3 liters was 33,758 manats. Cars in this segment went up by 14.27 percent.

The expert said that the rise in prices for cars with a small engine is associated with high demand for them.

In recent years, Azerbaijan has developed newer industries in addition to petroleum engineering. The country has achieved certain success in the development of transport engineering, namely the automotive sector.

Automative sector is currently developing fast in Azerbaijan, as more plants engaged in the production of cars are being launched across the country. 

Presently, Iran Khodro, the largest Iranian carmaker, is expanding its cooperation with Azerbaijan.

The company has begun production of its Samand model in Azerbaijan.

Khazar Automobile Company is already producing a Dena sedan. According to IKCO Press, production of the new Samand model has started this weekend.

Earlier, IKCO established a joint venture with the Azerbaijani automobile company AzerMash OJSC Khazar Automobile Company in the Neftchala Industrial Park on August 6, 2016. The total cost of the project is estimated at 24 million manats ($14.12 million). The Azerbaijani side has invested 75 percent, while the Iranian side – only 25 percent.

All vehicles manufactured at the plant comply with Euro-5 standards. The plant plans to start exporting cars next year.

The Khazar plant was opened during a two-day visit of Iranian President Hassan Rouhani to Azerbaijan. The annual capacity of the plant is about 10,000 cars. These cars are expected to be delivered not only to Russia, but also to Ukraine and Central Asian countries in the future.

The plant produces Khazar LD and Khazar SD models. The assemblage of a number of Peugeot and Renault models will be carried out in the future. They will cost 18,000-21,000 manats ($10,600-12,300). The cost of cars presently produced at the plant is 14,000-16,000 manats ($8,200-$9,400).

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