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GM Uzbekistan's car sales drop in Russia

Business Materials 16 May 2016 17:13 (UTC +04:00)

Tashkent, Uzbekistan, May 16
By Demir Azizov- Trend:

GM Uzbekistan, the former UzDaewooAuto, reduced the sale of cars in Russia by 14 percent up to 6,100 cars in January-April 2016 compared to 7,100 cars in 2015, the Automobile Manufacturers Committee of the European Business Association said.

GM Uzbekistan sold 1,571 cars in Russia in April 2016, which is five percent less compared to April 2015.

The share of GM Uzbekistan's cars on the Russian market amounted to 1.4 percent.
GM Uzbekistan ranked 17th in car sales in Russia.

Gentra model entered the list of 25 best-selling cars as of January-April 2016. Some 4,386 cars of this model were sold as of April.

GM Uzbekistan, formerly known as UzDaewooAuto, was created in 1996 on a parity basis by Uzbekistan and South Korean Daewoo Motors.

In 2005, Uzbekistan acquired Daewoo's shares in UzDaewooAuto. In 2007, Uzavtoprom (Uzbek Association of Automotive Industry Enterprises) and the U.S.-based General Motors signed an agreement to establish the GM Uzbekistan with an authorized capital of $266.7 million.

General Motors owns 25 percent shares in the GM Uzbekistan plus one share with a possibility of increasing it to 40 percent. At the moment, 75 percent of the shares belong to the Uzavtoprom.

Currently, GM Uzbekistan produces nine models of cars.

GM Uzbekistan produced 245,700 cars in 2014 compared 246,031 cars in 2013 (a 0.13 percent decrease).

GM Uzbekistan reduced car sales by 46 percent in Russia in 2015 compared to up to 20,451 cars in 2014.

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