"The demand for vehicles has decreased by 25% as exports, and local demand has dropped," reads a report by TBC Capital.
Following the report, the sales of vehicles resumed in May.
As specialists stated, the Lari depreciation and worsened expectations are additional factors on the drop in car sales.
"A 5 – 10% drop of real GDP is expected at the export markets (Armenia and Azerbaijan – about 70%), added by new customs regulations in Armenia. The decrease in exports (March – 37.5%) influences the local market negatively. The local sales of equipment and trucks will be relatively stable against the background of projected infrastructure expenses,'' the research reads.
As specialists suppose, in parallel to the lift of restrictions, the demand for the motor service will gradually resume from May.
Bela Gelashvili
News Author