GM Uzbekistan decreases car sales in Russia
Uzbekistan, Tashkent, July 19 / Trend D.Azizov /
GM Uzbekistan JV sold 41,446 cars in Russia in January-June 2012, or 8 per cent less compared to the same period of 2011, the Automobile Manufacturers Committee of the Association of European Businesses said on Thursday.
In particular in January-June, the company sold 24,671 Nexia cars (a 5-percent decrease) and 16,755 Matiz cars (a 12 -percent decrease).
In June, GM Uzbekistan decreased car sales by 2 percent to 9,256 cars compared to the previous month. The company sold 5,553 Nexia cars (a 2-percent increase) and 3,703 Matiz mini-cars (a 6-percent decrease).
In the first half of 2012 Nexia ranked 15th among the best selling cars in Russia, and Matiz ranked 22nd.
It was reported previously that GM Uzbekistan sold 92,778 cars in Russia in 2011, or 25 per cent more than the figure of the same period in 2010.
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 the Chevrolet - Captiva, Epica and Spark. As it was reported, in February the company started manufacturing a new car model - sedan Chevrolet Malibu.
The company increased production by 2.1 per cent in 2011 to 221,445 cars compared to 2010.