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Economy 21/12/2010 GM Uzbekistan sells 118,168 automobiles in Uzbekistan
GM Uzbekistan sells 118,168 automobiles in Uzbekistan
Tashkent, Uzbekistan (UzDaily.com) -- GM Uzbekistan, an Uzbek-US carmaker, realized 118,168 units of automobiles in Uzbekistan in ten months of 2010, the press service of Uzavtosanoat JSC said.

According to Uzavtosanoat, Nexia model became leader of sales in Uzbekistan. Over 40,126 cars of this model were traded in internal market in the reporting period.

Tashkent city was leader on sales of Nexia automobile models with 10,680 units. Tashkent city was followed with Andijan region (3,751 units) and Ferghana region (3,360 units).

Matiz became the second popular model in Uzbekistan. GM Uzbekistan sold 37,803 Matiz automobiles in ten months of 2010. The enterprise also sold 19,328 Damas mini-buses and 16,036 Lacetti automobiles. The Uzbek carmaker realized 1,147 Captiva and 2,100 Epica models.

GM Uzbekistan also sold 1,628 units of Spark model, sales of which was launched on 25 August 2010.

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 increased car output by 5.1% year-on-year in 2009. In 2009, the company produced 205,011 vehicles.

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