By Kamila Aliyeva
GM Uzbekistan, the former UzDaewooAuto, sold more than 4,100 Ravon cars in Russia in January-March 2018, which is 2.5 times more than in the same period in 2017.
This was reported by the Automobile Manufacturers Committee of the European Business Association.
In March 2018, the company increased sales by 71 percent up to 1,160 cars compared to the same period in 2017.
The share of GM Uzbekistan in the Russian market in January-March 2018 was 1 percent compared to 0.5 percent for the same period in 2017, the committee said.
According to the results of January-March 2018, GM Uzbekistan took the 21st place in terms of sales of cars in Russia. However, none of the models GM Uzbekistan was included in the Top-25 bestsellers in the reporting period.
Russia is the main export market of GM Uzbekistan. The market share of the Uzbek automaker increased from 0.1 percent in 2016 up to 0.9 percent.
GM Uzbekistan, 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. Two years later 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 UzAvtosanoat.
Currently, 10 Chevrolet and Ravon car models are being produced at three production sites of the company.
The production of cars by General Motors Uzbekistan Ltd decreased by 7.4 percent in 2017 and amounted to more than 82,000, whereas in 2016, the production decreased by 52.5 percent, and in 2015 – by 24.5 percent.
In the coming years, the company intends to take a dominant role in the automobile market of Kazakhstan through an alliance with the Kazakh Allur Group of Companies JSC, and also to strengthen its position in the Russian market, including through the possible creation of an assembly plant near St. Petersburg.
Kamila Aliyeva is AzerNews’ staff journalist, follow her on Twitter: @Kami_Aliyeva
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