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Economy 14/01/2013 GM says 123,000 Chevrolet cars sold in Uzbekistan in 2012
GM says 123,000 Chevrolet cars sold in Uzbekistan in 2012
Tashkent, Uzbekistan (UzDaily.com) -- GM Uzbekistan, an Uzbek-US carmaker, sold some 123,000 automobiles in internal market in 2012, American company General Motors (GM) said in a statement.

As earlier reported, GM Uzbekistan traded about 121,584 automobiles in Uzbekistan in 12 months of 2011.

According to GM, Uzbekistan entered to the top 10 largest sales market of Chevrolet automobiles in 2012. Uzbekistan was on the ninth place among largest markets of GM in 2012 (the eight in 2011).

Among largest markets of Chevrolet also included the USA (1.85 million sold cars), Brazil (643,000), China (627,000), Russia (205,000), Mexico (179,000), Canada (139,000), Argentina (134,000), South Korea (125,000) and India (92,000).

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. GM Uzbekistan exports products to neighboring and CIS states.

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