Share of GM Uzbekistan in Kazakh car market makes up 9.05% in February
01/04/2013 10:04
Share of GM Uzbekistan in Kazakh car market makes up 9.05% in February
01/04/2013 10:04
Tashkent, Uzbekistan (UzDaily.com) -- Market share of Uzbekistan in automobile market of Kazakhstan on number of imported cars made up 9.14% in February 2013 against 5.27% in February 2012, a report of the Kazakhstan Automobile Business Association said.
According to the Association, sales of GM Uzbekistan grew from 257 units of cars in February 2012 to 838 units in February 2013. The growth rate made up 3.26 times.
At the same time, the share of the company made up 9.05% in February 2013 against 5.27% in the same period of 2012.
GM Uzbekistan claimed the third place on the volume of sold cars in Kazakhstan in February 2013 after LADA and KIA.
Kazakhstan Automobile Business Association said that Nexia and Matiz clinched the first places in their market segment – Class C and A respectively.
GM Uzbekistan realized 632 units of Nexia cars (167 in February 2012) and 206 units of Matiz cars (90 units) in Kazakhstan in February 2013.
Uzavtosanoat and South Korea’s Daewoo Motor created a joint venture - UzDaewoo Auto - on parity conditions with the charter capital of US$200 million. In 1996, the venture launched car production plant with the cost of US$650 million in Asaka city of Andijan region. The capacity of the venture is 200,000 cars per year.
In May 2005, Uzavtosanoat purchased 50% shares of Daewoo Motor in UzDaewoo Auto for about US$110 million. General Motors and Uzavtosanoat completed process of creation of GM Uzbekistan on the base of UzDaewooAuto in the end of March 2008. The charter capital of new venture is US$266.7 million.
General Motors owns 25% shares and plus one share in the new venture and it can increase its share up to 40%. Currently, Uzavtosanoat possesses 75% shares in GM Uzbekistan.
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