Uzbekistan vehicle market kept declining in the 2017 with sales down 14.7% mainly due to the increase of export decided for the GM-Uzbekistan production. The state-owned company is stable near 92% market share.
Uzbek government is taking important steps to opening up its statist economy. In a bid to support private entrepreneurship and lure foreign investment, the government is enacting an ambitious microcredit program to foster private sector growth.
Economy expanded 5.3% in 2017, a substantial slowdown from 2016’s 7.8% increase and the slowest print since 2003. Growth in 2017 was weighed down by a softer expansion in construction, investment and agriculture, despite higher prices for cotton, a key export. In addition, retail trade expanded a soft 2.4% in 2017, a steep drop from the 14.4% expansion in 2016.
Uzbek automotive sector is one of the primary industrial area in the country, but in recent years is struggling for the crisis or the evolution of the CIS area , the principal area of export for the local made production.
Indeed, domestic market has always been controlled by the state-owned GM Uzbekistan, forcing the customers to high price, long wait, low technology and low safety models. But the absence of internal competition has not pushed the local plants to be efficient in terms of quality and cost and compete in foreign markets is hard.
Due to the huge import fees, the domestic market is totally controlled by GM Uzbekistan with just marginal space left to others players. However, steps towards a market liberalization should be taken in the next years while the country economy will be opened at the international trade.
In recent years the market trend was quite negative, with sales declining year over year to the 106.425 units (-14.6%) reported for the 2017.
GM-Uzbekistan market share is stable at 92%.
Tables with sales figures
In the tables below we report sales for Top Brands