Prices for GM Uzbekistan cars rise in Uzbekistan

Business Materials 19 May 2012 15:54 (UTC +04:00)

Uzbekistan, Tashkent, May 19 / Trend D. Azizov /

JV GM Uzbekistan (formerly JSC "UzDaewooAuto", the city of Asaka, Andijan region) increased the prices for the cars of its own production in the domestic market of Uzbekistan from 12 to 29 percent.

Under the new price list, which appeared in showrooms, retail prices for Damas car rose by 29 percent, Matiz - from 15 to 22 percent (depending on configuration), Spark - 20 percent, Lacceti - from 12 to 20 percent, Captiva - 16 - 17 percent, Nexia - 9 to 20 percent.

According to the price list, the price for a new Damas, depending on configuration is now 20.937 million soums and 21.392 million soums against 16.23 million soums and 16.582 million soums respectively.

Matiz minicar with a one-liter engine now costs from 18.813 million to 19.699 million soums, with the 0.8-liter engine - from $5,969 to $6,910.

Spark car now costs from 22.704 million soums to 28.187 million soums, Captiva - from 79.924 million soums to 86.503 million soums, Nexia - from 24.261 million soums to 31.026 million soums.

Prices for Lacceti car have been set in a range from $14,553 to $16,815, as well as 50.624 million soums, depending on the configuration.

Prices for Malibu car, production of which GM Uzbekistan began in late February2012, are from $31,258 to $32,303 and 95 million soums.

Last year, prices for GM Uzbekistan cars rose in late March, 2009 - in early April.

JSC UzDaewooAuto was established in 1996 on a parity basis by the Government of Uzbekistan and South Korea's Daewoo Motor.

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 eight models of cars, four of which are manufacture through SKD technology( Chevrolet - Captiva, Epica, Spark and Malibu). Other models are released within the full-scale production.

The company increased production by 2.1 per cent in 2011 to 221,445 cars compared to 2010.
In January-March 2012 JV reduced car production by 10.3 percent compared to the same period last year - to 40,699 units.

In particular since the beginning of the year car factory produced 15.789 Nexia cars (a decline of 6.1 percent), 8,662 Matiz cars (a decline of 29.6 per cent), 4,363 Damas cars (an increase of 11.7 per cent), 3,597 Lacetti cars (a decline of 33.5 per cent), 1,700 Captiva cars (an increase of 7.4 times), 572 Epica cars (an increase of 0.9 per cent), 6,012 Spark cars (a decline of 1.8 percent).

In addition, in March, four Chevrolet Malibu cars were manufactured.