Uzbekistan, Tashkent, April 15 / Trend D.Azizov /
GM Uzbekistan JV (formerly UzDaewooAuto JSC in Asaka, Andijan region) increased its car sales in Russia in January-March 2013 (the main export market for the automobile) by 13 per cent to 15,898 units compared to the same period in 2012, according to the Automobile Manufacturers Committee of the European Business Association in Uzbekistan.
According to the report, some 9345 Nexia cars were sold in the first quarter of this year on the Russian market, an increase of 11 per cent and 6553 Matiz mini cars up16 per cent.
According to the committee, GM Uzbekistan JV ranked 14th in terms of sales of cars in Russia in the first quarter.
As reported, in 2012, the car factory lowered car sales in Russia by five per cent to 88,232 units compared to 2011.
UzDaewooAuto JSC was created in 1996 on a parity basis by the Government of Uzbekistan and South Korea's Daewoo Motor.
In 2005, Uzbekistan bought the Daewoo shares in the joint venture. In 2007, Uzavtoprom and General Motors signed an agreement to establish the GM Uzbekistan plant with charter capital of $266.7 million, where the American side owns a 25 per cent stake plus one share in the enterprise with the possibility of increasing it to 40 per cent. At the moment 75 per cent of the shares belong to Uzavtoprom JSC.
Currently, GM Uzbekistan JV produces eight models of cars, including four Chevrolet - Captiva, Epica, Spark and Malibu, production of which began in February this year based on SKD technology. Other models are available within the full-scale production.
In 2012, GM Uzbekistan JV increased car production by 6.4 per cent as compared with 2011 - up to 235,518 units.