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Kazakhs prefer cars of local production

Business Materials 17 November 2018 13:02 (UTC +04:00)

Baku, Azerbaijan, Nov. 17

By Rashid Shirinov – Trend:

As many as 25,897 vehicles with a total value of 162,9 billion tenge were produced in Kazakhstan in January-October 2018, Kazakh media reported with a reference to KazAvtoProm.

They included cars, trucks, buses, special vehicles and trailers. The volume of output in physical terms exceeded last year's figure by as much as 72.1 percent.

"In October, Kazakh automakers overcame a symbolic milestone - for the first time in the history of the industry, the share of their products in total market sales surpassed 50 percent," Chairman of the Board of KazAvtoProm Oleg Alferov noted.

He added that taking into account the growth rates, it is expected that by the end of the year the sales figures will approach the level of 30,000 cars, and production volume will surpass this figure.

Kazakhstan residents' expenses for the purchase of cars of local production amounted to 138 billion tenge, which is 61.8 percent higher than a year ago.

In addition, the contribution of industry enterprises to Kazakhstan's GDP in the first 10 months of the year amounted to 162.9 billion tenge (an increase of 44.6 percent year-on-year), which significantly exceeds the contribution of such sectors of economy as pharmaceuticals and light industry.

Official exchange rate on Nov. 17 is 367.06 KZT / USD.

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