GM Uzbekistan increased car production by 10 per cent this year
Uzbekistan, Tashkent, October 18 / Trend D.Azizov /
GM Uzbekistan JV (formerly UzDaewooAuto in Asaka, in the Andijan region) increased car production by 9.7 per cent up to 192,182 cars in January-September 2013 compared to the same period of 2012, a source in the Uzbek government circles told Trend today.
According to the interlocutor, the enterprise has decreased its Nexia car production by 31.6 per cent up to 46,562 cars; Matiz car production by 34.6 per cent up to 27,031 cars, Captiva car production by 25.1 per cent up to 2,009 cars and Spark car production by 5.4 per cent up to 22,046 cars since early 2013.
The enterprise increased Damas car production by 1.4 per cent up to 18,814 cars, while Lacetti car production rose by 22.3 per cent up to 23,636 cars.
It was reported that GM Uzbekistan started producing a new model car the Chevrolet Malibu in February 2012 and Chevrolet Cobalt in September. Around 3811Malibu cars with a growth factor of 2.7 times and 48,273 Cobalt cars were produced in January - September this year.
UzDaewooAuto JSC was created in 1996 on a parity basis by the Government of Uzbekistan and South Korea's Daewoo Motor Company.
In 2005 Uzbekistan bought Daewoo shares in a joint venture. In 2007 Uzavtoprom and General Motors signed an agreement to establish a basis for the GM Uzbekistan plant with an authorised capital of $266.7 million. The American side owns 25 per cent of the 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.
Currently, GM Uzbekistan JV produces eight models of cars.
In 2012, GM Uzbekistan JV increased its car production by 6.4 per cent compared to 2011 which was up to 235,518 units.