TODAY.AZ / Business

Country boosts car production in 2019

27 January 2020 [15:44] - TODAY.AZ

By Azernews


By Rasana Gasimova

Azerbaijan increased its domestic car production in 2019, decreasing its import dependence.

The country’s automobile manufacturing plants produced some 2,360 cars, which is 1.8 times more than the same period last year.

The total volume of production of cars, trailers and semi-trailers in Azerbaijan amounted to 315.5 million manats ($185.5 million), which indicates an increase of 10.6 percent over the year, local media reported referring to the State Statistical Committee.

Moreover, Azerbaijan imported 36,061 cars worth almost 475 million manats ($279 million).

In addition, 3261 trucks worth 54 million manats ($31.7 million) and 494 buses worth 68.7 million manats ($40.4 million) were imported to the country in 2019.

There are currently three automobile manufacturing plants in Azerbaijan located in Neftchala, Ganja and Nakhchivan. The plant in Ganja also produces agricultural machinery. Currently, cars are only manufactured at the Neftchala plant.

Khazar plant in Neftchala, which has been operating since March, produced over 1,600 cars.

The country’s Ganja Automobile Plant is manufacturing trucks of Belarus and Russian companies and is the largest assembly plant of Belarus tractors outside the Eurasian Economic Union.

In addition, another plant that opened in Nakhchivan in 2010 assembles eight models of Lifan passenger cars designed by China’s Lifan Group, which provides all necessary spare parts for cars to the plant, so they may be assembled in Azerbaijan under the direct supervision of Chinese automotive specialists.

According to the Market Analysis Azerbaijan 2019, production in the automotive industry of Azerbaijan will reach $20 million this year and $70 million by 2022.

According to government forecasts, the volume of car production will amount to 56 million manats ($32.9 million) in 2020, 85.3 million manats ($50 million) in 2021, and 113.3 million manats ($66.6 million) in 2022.

The country plans to gradually bring its car production to 7,000 cars per year. In 2020, this number is expected to reach 2,000 units, in 2021 - 3,500 units, in 2022 - 5,300 units, o eventually reach 7,000 units in 2023.

URL: http://www.today.az/news/business/190434.html

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