Tashkent, Uzbekistan, Nov. 15
By Demir Azizov - Trend:
GM Uzbekistan JV (formerly UzDaewooAuto in Asaka, in the Andijan region) decreased car sale in Russia which is the main export market of the car plant by 33 percent up to 49,014 cars in January-October 2013 compared to the same period of 2012, the Automobile Manufacturers Committee of the Association of European Business said on Thursday.
According to the report, around 25,194 Nexia cars (a 45 percent decrease) and 23,820 Matiz cars (a 15.4 percent decrease) were sold on the Russian market for 10 months 2013.
Sales of cars manufactured in Uzbekistan decreased by 17 percent up to 5,921 units in October compared to October 2012.
Nexia car sales decreased by 54 percent - to 2,182 units, while Matiz car sales increased by 56 percent - to 3,739 units.
As of 10 months of 2013, "GM Uzbekistan" ranked 14th in terms of car sales in Russia.
It was reported that the car plant reduced car sales in Russia by five percent up to 88,232 units in 2012 compared to 2011.
UzDaewooAuto JSC was created in 1996 on a parity basis by the Uzbek government 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 percent of the shares plus one share in the enterprise, with the possibility of increasing it to 40 percent.
Currently, 75 percent 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 percent compared to 2011 which was up to 235,518 units.