Car Trade Increased, Prices Rose: "Zhoghovourd"

"Zhoghovourd" newspaper reports that "In Armenia, during the period from January to September of this year, the volume of car trade amounted to 75 billion 557 million 100 drams. According to the Statistical Committee of the Republic of Armenia, this represents a 2.3% increase compared to the same period last year, indicating that car trade in our country has become more active. Not only has the trade increased, but car prices have also risen.

It turns out that due to COVID, cars have not been produced globally, and now the vehicles sold in the local market are those imported years ago, and they are priced higher than before. Armenians would typically import cars from the U.S. only if they were damaged, while American citizens would only purchase newly manufactured vehicles. Now, American citizens are told that they need to wait six months for a new car. To avoid such a long wait, they are forced to repair and use their damaged vehicles. For example, a Honda Civic that was worth $17,000 in 2019 now costs $26,000," shared an importer with "Zhoghovourd".

However, during COVID, car prices had decreased by 50%. At that time, when there was quarantine, people were forced to sell their $10,000 cars for $4,000 to sustain their livelihoods.

For more details, refer to the current issue of the newspaper.