Georgia cars: How the country became a hub for used cars
Published On Oct 13, 2024, 7:28 PM
Georgia has become a significant hub for the international used car market, primarily sourcing vehicles from the US. A notable company, Caucasus Auto Import (CAI), specializes in importing damaged cars from the US, repairing them in Georgia, and selling them locally or exporting them mainly to former Soviet states. Despite strict sanctions against Russia due to the ongoing conflict in Ukraine, there are concerns that many cars imported into Georgia may ultimately reach the Russian market through neighboring countries like Kazakhstan and Armenia, which have lower tariffs for vehicles. This used car trade has seen a dramatic increase, particularly for hybrids and electric vehicles, reflecting a growing demand in the region.
Stock Forecasts
TM
Positive
The rise in used car exports, particularly hybrids and electric vehicles, could indicate growth in the automotive sector within Georgia. This trend suggests potential investments in companies involved in car exporting and repairs, alongside those focusing on hybrid and electric vehicle technologies.
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