Imported Cars from Years Ago Sold at High Prices in Local Market

The car market in Armenia has become active, with trade volumes significantly increasing. According to official sources, car trading volumes have risen by 14.9 percent. In the January-November period of the previous year, the trade volume of cars in Armenia reached 103 billion 508 million 100 drams.

However, it's not just trade that has intensified; car prices have also surged. Moreover, it is noteworthy that the local market is selling cars imported years ago at elevated prices. Car manufacturing factories around the world halted production due to the coronavirus pandemic. This has resulted in a sharp rise in car prices. For instance, the Honda Civic, which cost $17,000 in 2019, now exceeds $25,000. In 2020, when a state of emergency was declared in Armenia due to the coronavirus, car prices were lower. People were forced to sell their $10,000 cars for $4,000 to maintain their livelihoods.