Tashkent, Uzbekistan, July 11
By Demir Azizov - Trend:
The Uzbek-American joint venture GM Uzbekistan (formerly UzDaewooAuto) sold 8,574 cars in Russia, or 17.2 percent less than in the same period 2015, the Automobile Manufacturers Committee of the Association of European Businesses (AEB) said in a message July 11.
Russia is the main export market for GM Uzbekistan.
According to the message, GM Uzbekistan sold 1,136 cars in Russia in June, or 34.5 percent less as compared to 1,735 cars sold in June 2015.
GM Uzbekistan’s share in Russian car market remained unchanged in January-June 2016 standing at 1.3 percent as compared to the same period 2015, said the message.
UzDaewooAuto JSC was established in 1996 by the Uzbek government and South Korea’s Daewoo Motors.
Uzbekistan acquired Daewoo's shares in UzDaewooAuto in 2005. Uzavtoprom (Uzbek Association of Automotive Industry Enterprises) and the US-based General Motors signed an agreement to establish GM Uzbekistan with an authorized capital of $266.7 million in 2007.