GM Uzbekistan decreases car production by 10.3 percent

Uzbekistan Materials 17 April 2012 16:48 (UTC +04:00)

Uzbekistan, Tashkent, April 17 / Trend D. Azizov /

GM Uzbekistan has reduced car production by 10.3 percent to 40,699 in January-March 2012 over the same period last year, the State Statistics Committee said today.

The car plant has produced 15,789 Nexia cars (decreased by 6.1 percent), 8,662 Matiz cars (decreased by 29.6 percent), 4,363 Damas cars (increased by 11.7 percent), 3,597 Lacetti cars (decreased by 33.5 percent), 1,700 Captiva cars (increased by 7.4 times), 572 Epica cars (increased by 0.9 percent), 6,012 Spark cars (decreased by 1.8
percent) since early 2012.

Moreover, four Chevrolet Malibu cars were produced in March. The enterprise began its production in late February. UzDaewooAuto was established in 1996 on a parity basis by the Uzbek government and South Korea's Daewoo Motor.

Uzbekistan bought Daewoo's shares in the joint venture in 2005. "Uzavtoprom" and General Motors signed an agreement to establish the enterprise on the basis of GM Uzbekistan plant with the charter capital worth $266.7 million in 2007. The U.S side has 25 percent of shares plus one share, with the possibility of increasing it to 40
percent. At present, about 75 percent of the shares belong to "Uzavtoprom."

GM Uzbekistan produces eight models of cars, of which four Chevrolet Captiva, Epica, Spark and Malibu are produced by SKD technology, the rest - within the full-scale production.

GM Uzbekistan increased car production by 2.1 percent to 221,445 in 2011 compared to 2010.