Uzbekistan 2021. Leader Chevrolet Drops 34.9% In Market Falling In Double-digits

The 2022 Chevrolet Bolt EV
The 2022 Chevrolet Bolt EV

Uzbekistan’s Auto market in 2021 falls by 28.4% with 208,149 sales, reporting double-digits losses in every quarter. Lada reports the sharpest drop on the leaderboard, losing 48.1%.

Market Trend

Uzbekistan’s car market this year attempted to recover from the pandemic crash of 2020 but reported double-digit losses in every quarter.

Due to the huge import fees, the domestic market is totally controlled by GM Uzbekistan with just marginal space left to other players. However, key steps towards market liberalization started to be taken in 2017. As far as GM Uzbekistan, production raised at 135,471 units, and a new sales system was in place.

In the last three years, the Government reduced excise tax on vehicles by 26% in order to neutralize the consequences of the harmonization of local currency price with the exchange rate to US dollar in the “grey market”. In 2018 new key steps have been taken to open the industry and the stated-controlled, Uzavtosanoat, bought out 100% of GM’s shares in the Asaka car plant.

Sales in 2018 grew up 10% at 139,902 and the trend remained positive in 2019 too, thanks to the reduction of import duties and VAT. In fact, the market reacted quite well and sales accelerated following a robust demand across all the year.  Indeed, in 2019 Total sales have been 190,164, up 3.5%.

Due to the COVID-19 Pandemic full-Year sales for 2020 have been 173,756, reporting a 8.6% decrease in sales compared to 2019.

In 2021 the year started negatively for the Uzbekistan market, in fact, in Q1 43,256 units have been sold, reporting a 42.2% decrease in sales, and in Q2 sales kept falling, reporting a 13.3% decrease in sales with 63,164 units sold.

In Q3 sales were down 22.8% with 59,16 units sold, and in Q4 sales remained down 35.9% with 42,613 sales.

Indeed, Full-Year sales for 2021 have been 208,149, reporting a 28.4% decrease compared to 2020.

Uzbekistan quarterly sales variation
Uzbekistan quarterly sales variation

Brand-wise, this year the leader Chevrolet (-34.9%) lost 6.7% market share, followed by Daewoo (-8%), which gained 5.8% share. Isuzu on the other hand gained 1.1% share, rising 22.6%.  Lada fell in 4th place (-48.1%) and reported the worst performance on the leaderboard, followed by Man which lost 8%.

The most sold vehicle this year has been the Daewoo Damas (-8%) with 54,341 units.