Euro slump will reduce price of European automobiles

Baku. 27 October. REPORT.AZ/ Euro slump against the US-dollar by 4 percent on world markets causes drop of prices of automobiles produced in European countries.

Analytical Group of Report says if tendency continues, price of European automobiles may fall also in Azerbaijan. It may even influence prices of automobiles manufactured in other countries.

If Euro declines to parity with USD within next 12 months, prices of automobiles produced in European countries will drop by 15 percent, as USD is dominant currency in Azerbaijan’s automobile market. But expected rise of customs duties applied to imported automobiles in early 2017 will partially balance drop of prices. As a result, total price of automobiles will reduce for 7-10 percent only, experts predicted.