Tashkent, Uzbekistan (UzDaily.com) -- The automobile market of Uzbekistan showed some growth in the short term, while maintaining downward trends compared to last year. In May, an important shift in sales dynamics was observed in the new passenger car segment. The electric vehicle market again showed the highest rates of sales growth, and Tashkent showed that it is the undisputed leader, concentrating most of the demand in this segment.

The Center for Economic Research and Reforms conducts a monthly analysis of the situation in the automobile market of Uzbekistan.

According to the results, total sales of vehicles in the republic in May increased by 14% and reached 101 thousand units. However, year-on-year activity decreased by 1.5 times.

In May, the sales volume of passenger cars reached almost 90 thousand units, an increase of 14%. The increase in passenger car sales was the first positive indicator of market recovery over the past three months since February of this year.

An analysis of the regional dynamics of passenger car sales shows that the most significant growth was observed in Surkhandarya region - by 62.7%, Navoi region - 25.6% and Ferghana region - 19.6%.

However, the passenger car market decreased by 1.6 times in annual terms. This decline can be explained by a more noticeable decline in the share of the secondary market, which also decreased by 1.8 times over the same period.

The situation in the primary car market

In the primary passenger car market, sales in May increased one and a half times compared to April and amounted to almost 29 thousand. However, in annual terms there was a decline in activity by 13.6%.

The downward trend in sales of new domestically produced cars has given way to noticeable growth in this segment. In particular, sales of new Uzbek-made cars almost doubled, exceeding 26 thousand units.

On the contrary, compared to May 2023, a decrease in activity in this segment of 12.4% is recorded.

Foreign passenger cars segment

The foreign passenger car market also showed increased activity. In May, sales increased by 20% and amounted to 2.4 thousand cars. However, compared to last year’s level, sales of foreign passenger cars decreased by about a quarter.

Secondary car market

The situation in the secondary market for passenger cars is characterized by some short-term improvement, but with a significant annual decline in sales volumes.

In particular, the secondary market for passenger cars was marked by a slight increase in activity by 3.4%.

In general, sales for the month in this segment amounted to about 61 thousand cars.

At the same time, in annual terms, compared to May last year, there is a more noticeable decline - almost 1.7 times.

The situation on the electric vehicle market

In May, the passenger electric vehicle segment again demonstrated high sales growth rates, which reached record levels, increasing by 1.3 times compared to April. Sales volume reached 3.8 thousand units. Compared to the level of May last year, sales of electric vehicles have doubled.

The city of Tashkent can certainly be considered a leader in this segment, accounting for over 76% of total sales of electric vehicles in the country in May.