Uzbek Vehicles Market in June 2023 grows for the 3rd month in a row, reporting 28,450 new registrations (+12.2%). H1 figures at 163,407 are up 5.1% from the previous year.
Market Trend and Outlook
The Uzbek Vehicle Market in June 2023 grows for the 3rd month in a row, reporting 28,450 new registrations (+12.2%). H1 figures at 163,407 are up 5.1% from the previous year.
Looking at cumulative data from H1 2023 brand-wise, Chevrolet dominates the market with 78.5% market share and a 4.1% year-on-year growth in sales. The second biggest brand is Daewoo, up 4.2% in volume with 17.6% of the countries total market share.
Medium-Term Market Trend
While formally independent by Russian political influence, the Uzbekistan leadership have deeply influenced the development of the vehicles market, using it as a cash cow for the State finance.
Limiting the market to the only national producer (in partnership with General Motors) creating huge barriers with duties on import, allowed to control the distribution and maximise the financial return, in a market potentially at half 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 became negative and the shortage in components and microchips is severely hitting the market.