GM Uzbekistan plans to increase car exports

Business Materials 1 June 2012 18:09 (UTC +04:00)

Uzbekistan, Tashkent, June 1 /Trend D.Azizov/

GM Uzbekistan plans to increase the export of passenger cars by 1.4 times by 2014 to 120 000.

In particular, automobile plant plans to export 90,000 cars in 2012 and 120,000 cars in 2013. The company exported 85,000 vehicles in 2011.

In addition the company plans to increase the production of cars. GM Uzbekistan intends to produce total of 240,000 vehicles in 2012 and 270,000 - in 2013.

As previously reported, the company increased the production of cars by 2.1 percent in 2011, compared to 2010 - up to 221.445 thousand.

UzDaewooAuto was established in 1996 on a parity basis by the Uzbek government and South Korea's Daewoo Motor Company.

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.