Tashkent, Uzbekistan. Feb. 14
Trend - Demir Azizov:
In January 2014, the joint venture "GM Uzbekistan" (Asaka city, Andijan district) sold to Russia - the main export market of car factory - 3.718 thousand cars, which is 35% less than the indicator of 2013, the information of the Committee of Car Producers of the Association of European Business.
Moreover, in January, at the Russian market, 2.119 thousand cars Gentra (about 57 percent out of all sold cars), were sold, the production of which was launched by "GM Uzbekistan" in November 2013.
According to the results of January, "GM Uzbekistan" held thirteenth place in the volume of car sales in Russia. Gentra model held the twenty-second place among the most sold cars in Russia.
The share of cars of the Uzbek Joint Enterprise at the Russian market reduced to 2.5 percent versus 3.5 percent in 2013.
UzDaewooAuto JSC was created in 1996 on a parity basis by the Uzbek government and South Korea's Daewoo Motor Company.
In 2005 Uzbekistan bought Daewoo shares in a joint venture. In 2007 Uzavtoprom and General Motors signed an agreement to establish a base for the GM Uzbekistan plant with an authorized capital of $266.7 million. The American side owns 25 percent of the shares plus one share in the enterprise, with the possibility of increasing it to 40 percent.
Currently, some 75 percent of the shares belong to Uzavtoprom.
Currently, GM Uzbekistan JV produces eight car models.
In 2012, GM Uzbekistan JV increased its car production by 6.4 percent compared to 2011 by 235,518 units.
Translated by R.A.
Edited by C.N.