About 15,900 Uzbek cars sold in Russia in 1Q
11/04/2013 13:07
About 15,900 Uzbek cars sold in Russia in 1Q
11/04/2013 13:07
Tashkent, Uzbekistan (UzDaily.com) -- GM Uzbekistan, an Uzbek-US carmaker, increased sales of automobiles by 13% in the first quarter of 2013 – from 14,092 to 15,898 units , Automobile Manufacturers Committee of the Association of European Businesses said.
According to the committee, the enterprise decreased sales of automobiles by 34% - from 5,187 to 3,408 units in March 2013.
The joint venture recorded 11% growth of sales of Nexia cars in Russia in the first quarter 2013 up to 9,345 units and Matiz model – 16% to 6,553 units.
At the same time, the venture realized 1,924 Nexia cars in Russian Market in March 2013 and Matiz cars – 1,484 (-27%).
In the result of January-March, GM Uzbekistan claimed the 14th place on the volume of sold cars in Russia. Nexia claimed the 17th place among best sellers in Russia, while Matiz was on 25th place.
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.
Association of European Businesses was founded in 1995 on the initiative of several European companies registered in the Russian Federation, Ambassadors of EU member states and the Head of the Delegation of the European Commission to the Russian Federation.
The mission of the AEB is to represent and promote the interests of its Members by supporting them in doing business with and in Russia through quality lobbying, information support, and through activities aimed at improving the Russian trade and business environment in conformity with internationally accepted business principles and promoting integration and partnership between the European Union (EU) and Russia.
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