Uzbekistan vehicle market rose 7% in the first half 2015 fueled by the robust expansion of domestic economy and more production available to satisfy the domestic demand. GM Uzbekistan took control over 95.8% of the market.
Uzbekistan’s economy recorded a robust expansion in the first three-quarters of the year despite external headwinds. While the low global commodity price environment and the economic downturn in Russia are dragging on growth, strong public investment has picked up the slack.
The government is focused on increasing investment to propel economic growth as well as to modernize and diversify the Uzbek economy. On 25 October, Uzbekistan and Japan pledged over USD 8.5 billion in investment for new projects in Uzbekistan. The majority of the investments will be financed by Japan and will include oil and gas exploration, modernizing a heating power plant along with communication and transportation projects.
the joint venture between the Uzbek government (via UzAvtosanoat) and the American General Motors dominates the market with sahre near 95% thanks to prohibitive import duties and a long waiting list for any citizen desiring to ride a new vehicles.
The national production is suffering the CIS countries crisis with export to Russia and all the others countries falling down rapidly both for weak consumer’s demand and for new rules inside the area regarding vehicles safety and emissions. Due to the low technology contents several models produced in Uzbekistan are banned for export.
Starting from 2014 it is in place a plan to export in new markets, like Iran, but without new investments to update the line up at the new standard any plan will fail.
Albeit a weak first quarter, the domestic market is growing. Indeed, the low demand for export left more vehicles available for internal demand. In the first half 2015 light vehicles sales had been 84.606, up6.7%.
GM Uzbekistan market share in the period has been 95.8%.
The best-selling model has been the Daewo0 Gentra followed by the Daewoo Nexia and the Chevrolet Cobalt.
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