Uzbekistan increases car production

Business Materials 18 June 2020 16:32 (UTC +04:00)
Uzbekistan increases car production

BAKU, Azerbaijan, Apr. 18

By Ilkin Seyfaddini – Trend:

Uzautomotors JSC produced 21,200 cars in May 2020, which is by 2,000 more than in May 2019, Trend reports referring to the State Statistics Committee of Uzbekistan.

In comparison with the same period of 2019, production in the Uzbek car industry increased by 19.4 percent.

In the period from January through May 2020, the country produced 29,400 cars of Nexia brand (growth by 2.6 percent compared to the same period of 2019), 39,100 Cobalt cars (+52 percent), 21,300 Gentra cars (+32.1 percent), 22,200 Damas cars (+19 percent), 12,200 Spark cars (+54.9 percent) and 2,800 Labo cars (decrease by 15 percent).

General Motors Uzbekistan JSC with a production capacity of 250,000 cars per year was established in 2008 on the basis of Uzbek-Korean joint venture UzDaewoAuto, which passed under control of American General Motors, after the bankruptcy of Daewogo Corporation.

In 2018, Uzavtoprom JSC bought back first 15 percent of shares from the American concern, and by the end of that year it increased its share in GM Uzbekistan to 100 percent.

Initially, it was assumed that on the local market, cars will be sold under the brand name Chevrolet in the local market, and under Ravon brand abroad. Since this year, exported cars have also been sold under the brand name Chevrolet.

In May 2019, the board of Uzavtosanoat JSC, which owns the majority of car manufacturing enterprises in Uzbekistan, renamed General Motors Uzbekistan JSC into Uzavtomotors JSC.


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