GM Uzbekistan ups car sales in Russia

Uzbekistan, Tashkent, July 13 / Trend D.Azizov /

GM Uzbekistan, an Uzbek-US carmaker sold 32,316 automobiles in the first half of 2009, which is up 17% year-on-year (27,642 cars in 1H 2008). The company entered to Top 10 bestselling cars in Russia in the first half of 2010, the Automobile Manufacturers Committee of the Association of European Businesses reported.  

The Uzbek carmaker occupied the seventh place on the volume of sold cars in the Russian market.

m Uzbekistan sold 7,395 cars in June 2010 in the Russian market compared to 4,178 cars in June 2009 (growth 77%), the committee underlined.

Nexia model, produced at the Uzbek plant, took the eighth place in the list of bestselling automobiles in the Russia and the third among imported cars. The company traded 18,580 cars of this model in Russia in January-June 2010 compared to 14,712 cars in the same period of 2009 (growth 26%).

Sales of Nexia model doubled in June compared to the same period of 2009 and reached 4,394 cars (2,179 cars in June 2009), the committee said.

The eleventh place in the ranking was occupied by Matiz model. Sales of this model in Russia grew by 6% year-on-year in the first half of 2010 and made up 13,736 cars. In June, sales of Matiz grew by 50% to 3,001 units.

Uzavtosanoat and South Korea's Daewoo Motor created a joint venture - UzDaewoo Auto - on parity conditions with the charter capital of $200 million. In 1996, the venture launched car production plant with the cost of $650 million in Asaka city of Andijan region. The capacity of the venture is 200,000 cars per year.

In May 2005, Uzavtosanoat purchased 50% shares of Daewoo Motor in UzDaewoo Auto for about US$110 million. General Motors and Uzavtosanoat completed process of creation of GM Uzbekistan on the base of UzDaewooAuto in the end of March 2008. The charter capital of new venture is US$266.7 million.

General Motors owns 25% shares and plus one share in the new venture and it can increase its share up to 40%. Currently, Uzavtosanoat possesses 75% shares in GM Uzbekistan.

GM Uzbekistan increased car output by 5.1% year-on-year in 2009. In 2009, the company produced 205,011 vehicles.

Association of European Businesses was founded in 1995 on the initiative of several European companies registered in the Russian Federation, Ambassadors of EU member states and the Head of the Delegation of the European Commission to the Russian Federation.

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