GM Uzbekistan car sales to Russia decline
Tashkent, Uzbekistan, Dec. 16
By Demir Azizov - Trend:
GM Uzbekistan JV (formerly UzDaewooAuto in Asaka,) decreased car sales to Russia which is the main export market of the car plant by 32 percent to 54,633 cars in January-November 2013 compared to the same period of 2012, the Automobile Manufacturers Committee of the Association of European Business said today.
According to the report, around 26,978 Nexia cars (a 46 percent decrease) and 27,655 Matiz cars (an 8.9 percent decrease) were sold on the Russian market in the first 11 months of 2013.
Sales of cars manufactured in Uzbekistan decreased by 14 percent to 5,619 units in November compared to November 2012.
Nexia car sales decreased by 46 percent - to 1,784 units, while Matiz car sales increased by 73.9 percent - to 3,835 units.
As of November 2013, GM Uzbekistan ranked 14th in terms of car sales in Russia.
It was reported that the car plant reduced car sales to Russia by five percent up to 88,232 units in 2012 compared to 2011.
UzDaewooAuto JSC was created in 1996 on a parity basis by the Uzbek government and South Korea's Daewoo Motor Company.
In 2005 Uzbekistan bought Daewoo shares in a joint venture. In 2007 Uzavtoprom and General Motors signed an agreement to establish a base for the GM Uzbekistan plant with an authorized capital of $266.7 million. The American side owns 25 percent of the shares plus one share in the enterprise, with the possibility of increasing it to 40 percent.
Currently, some 75 percent of the shares belong to Uzavtoprom.
Currently, GM Uzbekistan JV produces eight car models.
In 2012, GM Uzbekistan JV increased its car production by 6.4 percent compared to 2011 by 235,518 units.
Translated by NH
Edited by CN