GM Uzbekistan decreases car sales in Russia by 5%
Uzbekistan, Tashkent, Jan. 22 /Trend D.Azizov/
Joint Venture GM Uzbekistan (formerly JSC UzDEUavto Asaka, Andijan region) decreased car sales in Russia (the main export market of automobile) by 5 percent in 2012 compared to previous year to 88,232 units, the Automobile Manufacturers Committee of the Association of European Business said.
Including 55,034 Nexia cars (a one-percent decrease) and 33,198 Matiz minicars (a 13-percent decrease) were sold in Russia during January-October.
The Committee said that GM Uzbekistan increased car sales by 18 percent in December 2012 compared to December 2011 - to 8,073 vehicles, including it sold 5,238 Nexia cars (29-percent increase), and 2,835 - Matiz (a one-percent decrease).
Nexia ranked 12nd among the best sold cars, whilst Matiz was 22nd in Russian market during the year. Joint Venture GM Uzbekistan ranked 12nd for the volume of car sales during the reporting period.
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. Other models are released within the full-scale production.
As Trend reported, GM Uzbekistan increased production by 6.4 percent in 2012 up to 235,518 cars compared to 2011.