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GM Uzbekistan’s car sales in Russia down in 1H17

Business Materials 21 July 2017 16:32 (UTC +04:00)

Tashkent, Uzbekistan, July 21

By Demir Azizov – Trend:

The Uzbek-American joint venture GM Uzbekistan (formerly UzDaewooAuto) sold 4,946 cars in Russia in January-June 2017 or 1.7 times less than in the same period in 2016, the Automobile Manufacturers Committee of the Association of European Businesses (AEB) said in a message July 21.

Russia is the main export market for GM Uzbekistan.

According to the message, GM Uzbekistan sold 1,239 cars in Russia in June 2017 as compared to 1,136 cars sold in June 2016.

GM Uzbekistan’s share in Russian car market decreased to 0.7 percent in January-June 2017 as compared to 1.3 percent in the same period of 2016, 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. GM Uzbekistan has been operating since March 2008.

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