Report Update: May 1, 2024

Azerbaijan - Passenger Cars - Market Analysis, Forecast, Size, Trends And Insights

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Passenger Car Price in Azerbaijan - 2023

Passenger Car Price in Azerbaijan (CIF) - 2023

The average passenger car import price stood at $18,266 per unit in August 2023, rising by 5.1% against the previous month. Over the period from August 2022 to August 2023, it increased at an average monthly rate of +2.3%. The most prominent rate of growth was recorded in May 2023 an increase of 36% against the previous month. Over the period under review, average import prices hit record highs in August 2023.

There were significant differences in the average prices amongst the major supplying countries. In August 2023, the country with the highest price was the UK ($41,901 per unit), while the price for Mexico ($8,223 per unit) was amongst the lowest.

From August 2022 to August 2023, the most notable rate of growth in terms of prices was attained by the UK (+5.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Passenger Car Price in Azerbaijan (FOB) - 2023

The average passenger car export price stood at $63,154 per unit in August 2023, rising by 4.3% against the previous month. In general, the export price, however, recorded a mild slump. The pace of growth was the most pronounced in July 2023 an increase of 56% month-to-month. The export price peaked at $83,846 per unit in October 2022; afterwards, it flattened through to August 2023.

Average prices varied somewhat for the major foreign markets. In August 2023, the highest price was recorded for prices to the United Arab Emirates ($63,622 per unit) and Kyrgyzstan ($63,471 per unit), while the average price for exports to Russia ($47,900 per unit) and Georgia ($56,303 per unit) were amongst the lowest.

From August 2022 to August 2023, the most notable rate of growth in terms of prices was recorded for supplies to Kazakhstan (-1.7%), while the prices for the other major destinations experienced a decline.

Passenger Car Imports in Azerbaijan

In 2022, purchases abroad of passenger cars decreased by -18.4% to 69K units for the first time since 2018, thus ending a three-year rising trend. In general, imports, however, continue to indicate prominent growth. The most prominent rate of growth was recorded in 2021 when imports increased by 70% against the previous year. As a result, imports reached the peak of 84K units, and then reduced dramatically in the following year.

In value terms, passenger car imports amounted to $845M in 2022. Over the period under review, total imports indicated strong growth from 2019 to 2022: its value increased at an average annual rate of +15.6% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +55.7% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 44%. Imports peaked in 2022 and are expected to retain growth in years to come.

Import of Passenger Car in Azerbaijan (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Japan	92.6	80.9	136	183	25.5%
Germany	149	118	134	165	3.5%
South Korea	45.2	55.9	104	135	44.0%
United States	73.6	95.1	126	102	11.5%
United Kingdom	48.0	39.5	31.0	62.6	9.3%
China	4.8	11.9	27.3	57.7	129.1%
Slovakia	16.7	12.9	18.8	32.9	25.4%
Turkey	12.0	14.3	12.6	18.1	14.7%
Russia	34.0	24.4	49.4	17.4	-20.0%
Czech Republic	6.5	6.5	8.7	17.0	37.8%
Mexico	12.9	21.9	29.3	15.5	6.3%
France	13.4	3.8	3.0	3.5	-36.1%
Others	38.3	56.9	100	35.9	-2.1%
Total	546	542	781	845	15.7%

Top Suppliers of Passenger Car to Azerbaijan in 2022:

South Korea (15.3K units)
Japan (15.2K units)
Germany (12.1K units)
United States (7.1K units)
Slovakia (3.4K units)
China (2.9K units)
United Kingdom (2.6K units)
Turkey (2.1K units)
Czech Republic (1.9K units)
Mexico (1.8K units)
Russia (1.6K units)
France (0.5K units)

Passenger Car Exports in Azerbaijan

Passenger car exports from Azerbaijan soared to 977 units in 2022, increasing by 1,337% compared with the previous year's figure. Over the period under review, exports saw significant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, passenger car exports soared to $38M in 2022. Overall, exports enjoyed a significant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Export of Passenger Car in Azerbaijan (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Kazakhstan	N/A	N/A	N/A	29.7	0%
Russia	0.3	N/A	0.3	2.9	113.0%
Georgia	0.2	0.1	0.5	2.8	141.0%
Ukraine	0.2	0.2	N/A	0.7	51.8%
Germany	1.2	0.2	1.5	0.2	-45.0%
Others	0.7	0.1	0.9	1.6	31.7%
Total	2.6	0.7	3.1	37.9	144.3%

Top Export Markets for Passenger Car from Azerbaijan in 2022:

Kazakhstan (818.0 units)
Russia (80.0 units)
Georgia (36.0 units)
Ukraine (23.0 units)
Germany (5.0 units)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the passenger car market in Azerbaijan. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 29102100 - Vehicles with spark-ignition engine of a cylinder capacity. 1 .500 cm., new
Prodcom 29102230 - Motor vehicles with a petrol engine > 1 .500 cm. (including motor caravans of a capacity > 3 .000 cm.) (excluding vehicles for transporting . .10 persons, snowmobiles, golf cars and similar vehicles)
Prodcom 29102250 - Motor caravans with a spark-ignition internal combustion reciprocating piston engine of a cylinder capacity > 1 .500 cm. but . 3 .000 cm.
Prodcom 29102310 - Motor vehicles with a diesel or semi-diesel engine . 1 .500 cm. (excluding vehicles for transporting . .10 persons, s nowmobiles, golf cars and similar vehicles)
Prodcom 29102330 - Motor vehicles with a diesel or semi-diesel engine > 1 .500 cm. but . 2 .500 cm. (excluding vehicles for transporting . .10 persons, motor caravans, snowmobiles, golf cars and similar vehicles)
Prodcom 29102340 - Motor vehicles with a diesel or semi-diesel engine > 2 .500 cm. (excluding vehicles for transporting . .10 persons, motor caravans, snowmobiles, golf cars and similar vehicles)
Prodcom 29102353 - Motor caravans with a compression-ignition internal combustion piston engine (diesel or semi-diesel) of a cylinder capacity > 1 .500 cm. but . 2 .500 cm.
Prodcom 29102355 - Motor caravans with a compression-ignition internal combustion piston engine (diesel or semi-diesel) of a cylinder capacity > 2 .500 cm.
Prodcom 29102400 - Other motor vehicles for the transport of persons (excluding vehicles for transporting . .10 persons, snowmobiles, golf cars and similar vehicles)
Prodcom 29102410 -
Prodcom 29102430 -
Prodcom 29102450 -
Prodcom 29102490 -

Country coverage:

Azerbaijan

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Azerbaijan
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023