Azerbaijan Vehicles Market was boosted in the 2019 by the success of the new local brand Khazan, established in the 2018 and based of technology imported from Iran. In 2019 market scored the new highest with 10.600 units sold with Khazar market leader with 1.8398 sales
Economic Environment
Azerbaijan’s economic growth strengthened somewhat in the third quarter, after slowing in the second quarter. The acceleration was led by a marked upturn in non-oil and gas activity, which more than offset softness in the energy sector in Q3.
Household spending likely spearheaded the overall expansion, reflected by sturdier retail sales growth in the quarter amid a stronger increase in wages in July–August. Turning to the fourth quarter, economic activity cooled in October amid a sustained downturn in the oil and gas sector, boding poorly for growth at the quarter’s outset.
Growth is seen stable next year, supported by rising government spending and sturdier private consumption amid improving labor market conditions.
Furthermore, looser monetary conditions and improving investor confidence bode well for investment activity growth. Volatile commodity prices and slowing global growth remain major risks to the outlook, however.
Market Trend
The introduction of new rules regarding the import of pre-owned and new vehicles has fast transformed the domestic industry in these years. Indeed, while the market was opened to import of any type of vehicles and the 90% of import was focused on used vehicles, with a huge number of almost old premium brands imported from Russia and Europe, the recent approach is to limit the import and sustain the opportunity to create a national automotive industry.
In 2019 the car market was pushed up by the success of the new local brand “Khazar” established in the 2018 and based of technology imported from Iran.
Thanks t a short line up based on three models, a sedan and hatch C class model and a D class sedan based on the Peugeot 404 old model, the new brand is able to deliver low cost models intercepting demand from the used vehicles and middle class.
As results, in 2019 market scored the new highest with 10.600 units sold with Khazar market leader with 1.8398 sales, ahead of the former traditional manufacturers, always on top of the local list, the Russian Lada and the Korean Hyundai.
Tables with sales figures
In the tables below we report sales for Top Brands
