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GM Uzbekistan's cars worth $1.3M sold in Tajikistan

4 July 2018 15:25 (UTC+04:00)
GM Uzbekistan's cars worth $1.3M sold in Tajikistan

By Kamila Aliyeva

The Uzbek-American automobile enterprise, GM Uzbekistan, has sold cars for $ 1.3 million in Tajikistan since September 2017, Uzbek media outlets reported.

“GM Uzbekistan is working hard to consistently develop partnership relations between Uzbekistan and Tajikistan. In 2017, the Uzbek car was first introduced in Tajikistan as part of the Made in Uzbekistan exhibition and the Uzbek-Tajik joint business forum in Dushanbe. Last September, a centralized Ravon showroom opened in Tajikistan and the sale of Uzbek cars -- Damas, Labo, Spark, Cobalt, Gentra and Nexia -- began,” the company said.

In addition, in the near future, the opening of several more car dealers in other regions of Tajikistan is expected.

GM Uzbekistan sold 5,184 Ravon cars in Russia in January-May 2018, which is 40 percent more than in the same period in 2017. At the same time, May was a failure month for the Uzbek brand. In Russia, only 508 machines were sold last month, while in May 2017, the sales amounted to 1,219. The fall reached 58 percent.

The Ravon brand for foreign markets was introduced in 2015. Currently, the automobile corporation General Motors and Uzavtosanoat are negotiating the sale of American shares (10 percent) in GM Uzbekistan.

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.

GM had previously held a 25 percent stake in the joint venture. Previously, it became known that Uzavtosanoat bought the 15 percent of shares.

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.

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Kamila Aliyeva is AzerNews’ staff journalist, follow her on Twitter: @Kami_Aliyeva

Follow us on Twitter @AzerNewsAz

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