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GM Uzbekistan decreases car sales by 6 per cent in Russia in January-August

Uzbekistan Materials 14 September 2012 09:10
JV GM Uzbekistan (formerly JSC UzDEUavto Asaka, Andijan region), sold 59,452 cars to Russia (the main export market of automobile) in January - August 2012, which is 6 percent less compared to the same period last year, the Automobile Manufacturers Committee of the Association of European Business said.
GM Uzbekistan decreases car sales by 6 per cent in Russia in January-August

Uzbekistan, Tashkent, Sept 13 /Trend D.Azizov/

JV GM Uzbekistan (formerly JSC UzDEUavto Asaka, Andijan region), sold 59,452 cars to Russia (the main export market of automobile) in January - August 2012, which is 6 percent less compared to the same period last year, the Automobile Manufacturers Committee of the Association of European Business said.

Including 36,364 Nexia cars (decrease by 1 percent) and 23,088 Matiz minicars (decrease by 12 percent) were sold in Russia during January-August.

The Committee noted that GM Uzbekistan decreased auto sales by 2 percent in July compared to August 2011 - up to 8,903 vehicles, including 5,786 Nexia cars (increase by 6 percent), and 3,177 - Matiz (decrease by 14 percent).

Nexia ranked 13th among the best sold cars, whilst Matiz was 21h in Russian market.

It was reported previously that GM Uzbekistan sold 92,778 cars in Russia in 2011, or 25 per cent more than the figure of the same period in 2010.

UzDaewooAuto was established in 1996 on a parity basis by the Uzbek government and South Korea's Daewoo Motor Company.

In 2005 Uzbekistan Daewoo bought shares in the joint venture. In 2007 Uzavtoprom and General Motors signed an agreement to establish a basis for the GM Uzbekistan plant with charter capital of $266.7 million. The American side owns 25 per cent of shares plus one share in the enterprise, with the possibility of increasing it to 40 per cent. Currently, 75 per cent of the shares belong to Uzavtoprom.

At present, JV GM Uzbekistan produces eight models of cars, four of which are the Chevrolet - Captiva, Epica and Spark. As it was reported, in February the company started manufacturing a new car model - sedan Chevrolet Malibu. Other models are released within the full-scale production.

The company increased production by 2.1 per cent in 2011 to 221,445 cars compared to 2010.

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