Toyota Center Tbilisi: Sales Dropped by 90% in 2020

Toyota Center Tbilisi President Irakli Gurchiani has summarized the 2020 performance and noted that the company sales have dropped by 90% as compared to the same period of 2019, as a result of the pandemic outbreak and deteriorated social and economic situation in the country.

This year, customers give preferences to comparatively cheaper automobiles, Gurchiani said. The GEL exchange rate was one of the challenges for the business sector in 2020, he added. “We have fixed prices in GEL. After concluding an agreement, we cannot change prices. Over the past period, we have to supply spare parts in detrimental conditions.

We cannot change anything. Last year, we had fixed prices at the exchange rate of $1/GEL 2.40, while in 2020 the exchange rate has dropped below 3.20”, Irakli Gurchiani said. Toyota Center Tbilisi talks about the 2021 expectations and says that if the situation is settled, the company will regain the 2019 indicators in 3-4 years. Otherwise, the company will go bankrupt. “If the economy and borders open in February, then we will recover shortly”, Gurchiani noted.