GM Uzbekistan increases car sales in Russia in January

Photo: GM Uzbekistan increases car sales in Russia in January / Economy news

Uzbekistan, Tashkent, Feb.14 / Trend /

Joint Venture GM Uzbekistan (formerly JSC UzDEUavto Asaka, Andijan region) sold 5,693 cars in Russia (the main export market of automobile) in January 2013, which is 18 percent more compared to the same period last year, the Automobile Manufacturers Committee of the Association of European Business said.

Including 3,508 Nexia cars (a 19-percent increase) and 2,185 Matiz minicars (a 18-percent increase) were sold in Russia during January.

According to the committee, JV "GM Uzbekistan" ranked 10th for volume of cars in Russia in the reporting period, Nexia ranked 10th among the best sold cars, whilst Matiz was 22st in Russian market.

As it was reported, GM Uzbekistan in 2012 decreased car sales in Russia by 5 percent in 2012 compared to previous year to 88,232 units. Including 55,034 Nexia cars (a one-percent decrease) and 33,198 Matiz minicars (a 13-percent decrease) were sold in Russia.

UzDaewooAuto was established in 1996 on a parity basis by the Uzbek government and South Korea's Daewoo Motor Company.

In 2005 Uzbekistan Daewoo bought shares in the joint venture. In 2007 Uzavtoprom and General Motors signed an agreement to establish a basis for the GM Uzbekistan plant with charter capital of $266.7 million. The American side owns 25 per cent of shares plus one share in the enterprise, with the possibility of increasing it to 40 per cent. Currently, 75 per cent of the shares belong to Uzavtoprom.

At present, JV GM Uzbekistan produces seven models of cars, three of which are manufactured through SKD technology (Chevrolet - Captiva, Epica and Spark). Other models are released within the full-scale production.

JV GM Uzbekistan (formerly JSC UzDEUavto, Andijan region) increased car production by 6.4 percent in 2012 up to 235,518 compared to 2011.

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