Tashkent, Uzbekistan, Aug. 11
By Demir Azizov- Trend:
"GM Uzbekistan" (JV) (formerly JSC "UzDaewooAuto", Asaka city, Andijan region) sold 26,860 cars in Russia - the main export market of the automobile plant in January-July 2014, which is 14 percent less than in the same period of 2013, according to the report of the Automobile Manufacturers' Committee of the Association of European Businesses.
The report noted that the automobile plant sold 2,841cars in Russia in July which is 27 percent less compared to the same period in 2013.
The share of the JV "GM Uzbekistan" CJSC in the Russian market made up 1.9 percent in January-July 2014 versus two percent in the same period of 2013.
None of the models of the joint venture was included in the top 25 best-selling cars during the reported period.
As reported earlier, in 2013, the "GM Uzbekistan" lowered car sales in Russia by 31.1 percent up to 60,829 units compared to 2012.
UzDaewooAuto was created in 1996 on a parity basis by the Government of Uzbekistan and South Korean Daewoo Motors.
In 2005, Uzbekistan has bought shares of Daewoo in the joint venture. In 2007, Uzavtoprom and General Motors signed an agreement on establishing of the plant of GM Uzbekistan with authorized capital of $266.7 million, in which the American side owns 25 percent stake plus one share in the enterprise with the possibility of increasing it to 40 percent. At the moment, 75 per cent of the shares belong to JSC Uzavtoprom.
Currently, JV GM Uzbekistan produces nine models of cars, including two models of Chevrolet - Captiva and Malibu by using SKD technology. Other models are produced in the full-scale production.
In 2013, the automobile plant increased car production by 4.5 percent up to 246,031, compared to the same period in 2012. Some 90,200 cars were exported (a growth of 2.3 percent).
Edited by CN