Key Market Indicators
Azerbaijan has witnessed a decline in car registrations, with figures dropping to approximately 2,360 units in 2023 from around 2,950 units in 2022. This marks a significant decrease of nearly 20% over the past year. Since 2010, the demand for cars in Azerbaijan has consistently fallen by an average of 6% annually. As a result, the country now ranks 109th globally for car registrations in 2023. Notably, Cuba has surpassed Azerbaijan with the same number of units registered. In comparison, Indonesia, Austria, and Belgium occupy the second, third, and fourth positions, respectively, in the global rankings. On the production front, Azerbaijan's car output reached approximately 1,950 units in 2020, down from 2,360 units in 2019. This indicates a year-on-year decline in production as well.
