Tashkent, Uzbekistan (UzDaily.com) -- The Center for Economic Research and Reforms conducts a monthly analysis of the situation in the Uzbek car market.

In the Uzbek car market, there has been a tendency to accelerate the pace of sales decline, which began in February. According to the results of April, the total sales of motor vehicles in the country, having decreased by 19%, amounted to 88.3 thousand cars.

In April, 78.5 thousand passenger cars were sold, which is 18.6% less than a month earlier.

Regionally, there is a decrease in sales in all regions of the republic in the passenger car market. The largest decline was noted in Namangan, Ferghana and Surkhandarya regions, where sales decreased by more than 30%.

In annual terms, the passenger car market decreased by 35.3%.

The reasons for the decline may be related to the reduction of car loans and the complication of the rules for issuing them. In March this year, Uzbek banks issued car loans worth 1.25 trillion sums, which is the lowest in the last two years, according to open data from the Central Bank.

Primary car market

As for the situation in the primary passenger car market, the market also shows a downward trend. However, in April, the decline in this segment slowed down, during the month, sales amounted to almost 20 thousand cars with a decline of 10%, compared to 17% in March. At the same time, compared to last year, this primary market decreased by almost 22%.

The trend towards a decrease in sales of new cars of domestic production has been observed for the third month in a row. In April, 17.7 thousand cars were sold, which is 9% less than last month. Over the year, activity here has decreased by more than 21%.

The segment of passenger cars

The market for passenger cars decreased by 15.3%. In total, 2 thousand foreign cars were sold in April. Compared to April last year, sales fell by 24%.

The secondary market of passenger cars

The secondary market of passenger cars decreased by 21.2%. The number of registrations in April amounted to almost 59 thousand cars.

In annual terms, there was a more noticeable decline - by 39%. Sales in the secondary market have reached a minimum since the beginning of 2022.

Electric car market

On the contrary, the electric car market showed strong sales figures in April. In April, sales of passenger electric vehicles amounted to 2.9 thousand, which is 23.2% more than in March.

The largest number of sales was recorded in the capital – almost 2 thousand cars.

In annual terms, sales of electric vehicles in the republic increased by 2 times.