Uzbekistan, Tashkent, Oct.11 / Trend, D.Azizov /
GM Uzbekistan, an Uzbek-US carmaker, entered to Top 10 bestselling cars in Russia in nine months of 2010, Automobile Manufacturers Committee of the Association of European Businesses said.
GM Uzbekistan sold 54,564 automobiles in January-September of 2010, which is up 40% year-on-year (38,960 cars in January-September 2009). The Uzbek carmaker occupied the eighth place on the volume of sold cars in the Russian market in the reporting period.
GM Uzbekistan sold 7,393 cars in September 2010 in the Russian market compared to 4,032 cars in September 2009 (growth 83%), the committee underlined.
Nexia model, produced at the Uzbek plant, took the seventh place in the list of bestselling automobiles in Russia and the third among imported cars. The company traded 31,879 cars of this model in Russia in January-September 2010 against 20,931 cars in the same period of 2009 (growth 52%).
Sales of Nexia model grew by 99% in September 2010 compared to the same period of 2009 and reached 4,578 cars (2,298 cars in September 2009), the committee said.
The tenth place in the ranking was occupied by Matiz model. Sales of this model in Russia grew by 26% year-on-year in nine months of 2010 and made up 22,685 cars. In September, sales of Matiz rose by 62% to 2,815 units.
Uzavtosanoat and South Korea's Daewoo Motor created a joint venture - UzDaewoo Auto - on parity conditions with the charter capital of US$200 million. In 1996, the venture launched car production plant with the cost of US$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.
The mission of the AEB is to represent and promote the interests of its Members by supporting them in doing business with and in Russia through quality lobbying, information support, and through activities aimed at improving the Russian trade and business environment in conformity with internationally accepted business principles and promoting integration and partnership between the European Union (EU) and Russia.