GM Uzbekistan reduces car sales to Russia by 14 percent in Jan.-April
Tashkent, Uzbekistan, May 20
By Demir Azizov- Trend:
GM Uzbekistan Joint Venture (formerly UzDaewooAuto in Asaka) sold 17,369 cars to Russia, which is the main export market of the car plant, in January-April 2014 or 14 percent less than in the same period of 2013, the Automobile Manufacturers Committee of the Association of European Business said.
The share of GM Uzbekistan cars on the Russian market decreased to 2.1 percent in January-April 2014 compared to 2.3 percent in 2013, according to the Automobile Manufacturers Committee.
Uzbek automobile plant has ranked 14th for the volume of car sales to Russia, as of the first quarter of 2014. However, one of the car models manufactured by GM Uzbekistan didn't enter the top 25 of best-selling cars.
The automobile plant sold some 4,511 cars in April, which is 6 percent more compared to April 2013, according to the committee.
GM Uzbekistan JV decreased car sales to Russia by 31.1 percent (to 60,829 cars) in 2013, compared to 2012.
UzDaewooAuto JSC was created in 1996 on a parity basis by the Uzbek government and South Korea's Daewoo Motor Company.
Uzbekistan bought Daewoo shares in a joint venture in 2005. Uzavtoprom and General Motors signed an agreement to establish a base for the GM Uzbekistan plant with an authorized capital of $266.7 million in 2007. The U.S. 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.
Currently, GM Uzbekistan JV produces nine car models. Two of these models, namely, Chevrolet - Captiva and Malibu are manufactured on the SDK technology, while others are produced as part of the full-scale production.
The automobile plant increased its car production by 4.5 percent (to 246,031 cars) in 2013, compared to 2012, and exported around 90,200 cars (a 2.3 percent increase).
edited by CN