GM Uzbekistan increases vehicle output 12% in 1Q
18/04/2013 05:08
GM Uzbekistan increases vehicle output 12% in 1Q
18/04/2013 05:08
Tashkent, Uzbekistan (UzDaily.com) -- GM Uzbekistan, an Uzbek-US carmaker, increased automobile production by 12.1% year-on-year to 45,631 units in January-March 2013, RIA Novosti reported quoting State Statistics Committee of Uzbekistan.
The reported said that the company produced 12,889 units of Nexia cars (-18.4%), 6,893 unites of Matiz cars (-20.4%), 4,490 units of Damas cars (+2.9%), 4,891 units of Lacetti cars, 6,148 units of Spark cars (+2.3%), 436 units of Captiva cars (- 3.9 times), 472 units of Malibu cars (+118 times).
The carmaker also produced 9,412 units of Cobalt cars, serial production of which was launched in September 2012.
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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