Azernews.Az

GM Uzbekistan JV (formerly UzDaewooAuto JSC) decreased its car sales in Russia in January-April by 13 per cent to 20,139 units compared to the same period of 2012, the Automobile Manufacturers Committee of the European Business Association said.

According to the report, some 11,663 Nexia cars were sold in the first four months this year on the Russian market, decreasing by 15 per cent and 8,476 Matiz mini cars, which decreased by 10 per cent.

In April, the company decreased car sales by 53 percent - up to 4,241, including Nexia sales decreased by 55 percent - to 2,318, Matiz - by 49 percent, to 1,923.
According to the committee, GM Uzbekistan JV ranked 14th in terms of car sales in Russia in the first four months.

As was reported, in 2012, the company lowered car sales in Russia by 5 per cent to 88,232 units compared to 2011.

UzDaewooAuto JSC was created in 1996 on a parity basis by the government of Uzbekistan and South Korea's Daewoo Motor.

In 2005, Uzbekistan bought the Daewoo shares in the joint venture. In 2007, Uzavtoprom and General Motors signed an agreement to establish the GM Uzbekistan plant with charter capital of $266.7 million, where the American side owns a 25 per cent stake plus one share in the enterprise with the possibility of increasing it to 40 per cent. At the moment 75 per cent of the shares belong to Uzavtoprom JSC.

Currently, GM Uzbekistan JV produces eight models of cars, including four Chevrolet - Captiva, Epica, Spark and Malibu, production of which began in February this year based on SKD technology. Other models are available within the full-scale production.

In 2012, GM Uzbekistan JV increased car production by 6.4 per cent as compared to 2011 - up to 235,518 units.