The authorized capital of the company was increased due to raise of par value of shares from 43,366 soums to 51,100, the company disclosed.

Currently, Uzavtoprom has 4,441,488 ordinary shares with par value of 51,000 soums each. The government of Uzbekistan possesses 100% share in the company. It is planned to realize 49% share to foreign investors.

Net income of the company grew by 55.2% to 120.34 billion soums in 2008. Significant growth of the net income is connected with undivided profit of GM Uzbekistan for previous years, which was transferred Uzavtoprom. GM Uzbekistan is part of Uzavtoprom.

In line with audited balance of the company, the assets of Uzavtoprom grew 2.1 times to 1.102 trillion soums in 2008, including long-term assets made up 667.3 billion soums (up 2.5 times). Current assets rose by 1.7 times to 434.5 billion soums, including money resources increased by 1.75 times to 408.5 billion soums.

Own capital of the company jumped 2.1 times to 1.043 trillion soums due to the growth of the state subsidies by 1.8 times to 611.03 billion soums.

Uzavtoprom joint-stock company was founded in 2004 through reorganization of the Uzbek Association of Automobile Enterprises. The charter capital of the enterprise was formed due to property and assets of the reorganized association, including state assets in 20 enterprises of automobile industry (plus shares of the association in 11 joint ventures) and money resources.

Automobile production in Uzbekistan grew by 13.7% year-on-year in 2008 to 197,038. GM Uzbekistan increased car output by 13.5% to 171,809 units.