GM Uzbekistan JV increases car production in 2013
Tashkent, Uzbekistan, Jan. 21
By Demir Azizov - Trend:
GM Uzbekistan joint venture (JV) (former UzDaewooAuto JSC, Andijan oblast, Uzbekistan) increased car production in 2013 by 4.5 percent, compared to the same period of 2012 up to 246,031 units, a source in Uzbekistan's government circles told Trend.
The interlocutor said that the last year GM Uzbekistan JV reduced production of Nexia cars by 29 percent to 59,709 units, Matiz cars by 43.7 percent to 31,205 units and Damas vans by 9.6 percent to 22,232 units.
Production of Chevrolet Spark cars decreased by 11.3 percent to 29,290 units and Chevrolet Captiva cars by 1.8 percent to 4,565 units.
Meanwhile, in 2013 the company increased production of Chevrolet Lacetti cars by 0.7 percent to 25,616 units, Chevrolet Malibu cars by 66.5 percent to 4,435 units, and Chevrolet Cobalt cars by 10.9 times to 60,412 units.
In November, 2013 the GM Uzbekistan JV began production of a new car model called Chevrolet Gentra. Until late 2013 the joint venture produced 8,567 cars of this brand.
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's shares in the joint venture.
In 2007 Uzavtoprom and General Motors signed an agreement to establish the GM Uzbekistan JV with an authorized 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, some 75 percent of the shares belong to Uzavtoprom.
GM Uzbekistan JV produces eight car models.
In 2012, GM Uzbekistan JV increased its car production by 6.4 percent compared to 2011 to 235,518 units.
Translated by E.A.
Edited by C.N.