GM Uzbekistan sees decrase in sales in Russia
GM Uzbekistan JV (formerly UzDaewooAuto JSC) sold in Russia some
29,303 cars in Jan.-Aug. 2014, or 20 percent less than in the same
period of 2013, the Automobile Manufacturers' Committee of the
European Businesses Association reported.
Russia is the main export market of the GM Uzbekistan JV, which is
located in the city of Asaka, Andijan Province, Uzbekistan.
GM Uzbekistan sold 2,443 cars in Russia in August, or 55 percent
less than in August 2013.
During the reported period, GM Uzbekistan held 1.9 percent of car
sales market in Russia versus two percent in the same period of
last year. None of the car models produced by the GM Uzbekistan was
included in the top 25 best-selling cars in the same period.
Earlier it was reported that, in 2013, GM Uzbekistan reduced car
sales in Russia by 31.1 percent to 60,829, as compared to 2012.
GM Uzbekistan or formerly known as UzDaewooAuto was created in 1996
on a parity basis by Uzbekistan and South Korean Daewoo Motors.
In 2005, Uzbekistan acquired Daewoo's shares in UzDaewooAuto. In
2007, Uzavtoprom (Uzbek Association of Automotive Industry
Enterprises) and the U.S.-based General Motors signed an agreement
to establish the GM Uzbekistan with an authorized capital of $266.7
million.
General Motors owns 25 percent shares in the GM Uzbekistan plus one
share with a possibility of increasing it to 40 percent. At the
moment, 75 percent of the shares belong to the Uzavtoprom.
GM Uzbekistan manufactures nine car models, including two models of
Chevrolet - Captiva and Malibu using the semi knocked down (SKD)
technology.
SKD makes it possible to manufacture car in parts in one country or
region, and then to export to another country or region for final
assembly.
Other car models are manufactured by the GM Uzbekistan using the
full-scale production.
In 2013, GM Uzbekistan increased car production by 4.5 percent up
to 246,031 as compared to the figures for the same period of
2012.
The Uzbek car manufacturer also exported some 90,200 cars in 2013
(a 2.3 percent growth).