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Economy 04/02/2010 GM Uzbekistan increases car output by 5.1% in 2009
GM Uzbekistan increases car output by 5.1% in 2009
Tashkent, Uzbekistan (UzDaily.com) -- GM Uzbekistan, a joint venture of General Motors (GM) and Uzavtosanoat, increased car production by 5.1% year-on-year in 2009 to 205,011 units.

The venture produced 90,650 Nexia cars (down 4.6% year-on-year), 69,130 Matiz compact cars (down 1.4% y-o-y) and 23,633 Damas minivans (down 3.6 y-o-y).

The company produced 19,400 Lacetti cars in the reporting period (up 14 times), 1,100 Captiva cars (down 41.9% y-o-y) and 1,098 Epica cars (down 46.7%).

As earlier reported, population of Uzbekistan purchased 160,000 locally made cars in 2009 compared to 80,000 units in 2008.

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.

According to Automobile Producers of the European Business Association, GM Uzbekistan’s cars entered to the Top-10 the most sold foreign cars in Russia in 2009.

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