Uzbekistan 2023. Vehicle Market Up Dominated By Chevrolet While Imports Fast Grow

The 2024 Chevrolet Blazer EV
The 2024 Chevrolet Blazer EV

Uzbek Vehicles Market grew sharply in 2023. Total sales reach 372,102 units (+33.8%). After the market opening to import, Chinese OEMs are fast growing lead by BYD.

Market Trend and Outlook

The Uzbek Vehicle Market in 2023 grew 33.8%, while totalling 372,102 total sales. December grows for the 9th consecutive month, reaching 29,890 sales (+108.1%).

Looking at cumulative data from 2023 brand-wise, Chevrolet dominates the market with 67.7% market share and a 25.3% year-on-year growth in sales. However, the domestic manufacturer is deeply losing market share after the boundaries opening. The second biggest brand is Daewoo, up 247% in volume with 19.3% of the country’s total market share.

Medium-Term Market Trend

While formally independent of Russian political influence, the Uzbekistan leadership has deeply influenced the development of the vehicle market, using it as a cash cow for State finance.

Limiting the market to the only national producer (in partnership with General Motors) creates huge barriers with duties on import, allowing to control the distribution and maximize the financial return, in a market potentially at half a million annual sales, but fluctuating between 100 and 200 thousand sales.

Now there is a plan to open the market to importers, but the economic environment has become negative and the shortage of components and microchips is severely hitting the market.