GM Uzbekistan's car sales in Russia drop
Tashkent, Uzbekistan, March 11
By Demir Azizov- Trend:
GM Uzbekistan, the former UzDaewooAuto, reduced the sale of cars in Russia by 3 percent up to 1,586 in February 2016 compared to February 2015, the Automobile Manufacturers Committee of the European Business Association said.
The sale volumes increased by almost 25 percent compared to January 2016. GM Uzbekistan sold 1,269 cars in Russia in January.
GM Uzbekistan sold 2,855 cars in Russia for the first two months of this year, which is 22 percent less compared to the same period of 2015.
The share of GM Uzbekistan's cars on the Russian market amounted to 1.5 percent in January-February 2016 compared to 2 percent in the same period of 2015.
As of February 2016, GM Uzbekistan ranked 18th in car sale in Russia.
Gentra model entered the list of 25 best-selling cars of the month. Some 2,146 cars of this brand were sold in January-February 2016 compared to 1,909 cars sold in January-February 2015.
GM Uzbekistan reduced the sale of cars in Russia by 46 percent up to 20,451 in 2015 compared to 2014.
GM Uzbekistan, formerly known as UzDaewooAuto, was created in 1996 on a parity basis by Uzbekistan and South Korean Daewoo Motors.
In 2005, Uzbekistan acquired Daewoo's shares in UzDaewooAuto. In 2007, Uzavtoprom (Uzbek Association of Automotive Industry Enterprises) and the U.S.-based General Motors signed an agreement to establish the GM Uzbekistan with an authorized capital of $266.7 million.
General Motors owns 25 percent shares in the GM Uzbekistan plus one share with a possibility of increasing it to 40 percent. At the moment, 75 percent of the shares belong to the Uzavtoprom.
Currently, GM Uzbekistan produces 12 brands of cars.
GM Uzbekistan produced 245,700 cars in 2014 compared 246,031 cars in 2013 (a 0.13 percent decrease).