GM Uzbekistan sells 23,680 cars in Russia in Jan-May

According to the committee, the enterprise decreased sales of cars by 61% year-on-year in May – from 9,132 to 3,541 units.

Sales of Nexia cars fell by 29% in January-May 2013 to 13,563 units and by 65% to 1,900 units in May 2013. Other volume fell to share of Matiz (10,117 units in January-May 2013 and 1,641 units in May).

In the result of May, GM Uzbekistan claimed the 14th place on sales of automobiles in Russia. Nexia was on 20th place of the bestselling cars in Russia in the reporting period.

According to the committee, May 2013 saw the decrease in sales of new cars and light commercial vehicles in Russia by 12% in comparison to the same period in 2012. This May 229.670 units were sold; this is 31.791 units less than in April, 2012.

From January to May, 2013 the sales of new cars and light commercial vehicles in Russia decreased by 4% in comparison to the same period in 2012.

Uzavtosanoat and South Korea’s Daewoo Motor created a joint venture - UzDaewoo Auto - on parity conditions with the charter capital of US$200 million. In 1996, the venture launched car production plant with the cost of US$650 million in Asaka city of Andijan region. The capacity of the venture is 200,000 cars per year.

In May 2005, Uzavtosanoat purchased 50% shares of Daewoo Motor in UzDaewoo Auto for about US$110 million. General Motors and Uzavtosanoat completed process of creation of GM Uzbekistan on the base of UzDaewooAuto in the end of March 2008. The charter capital of new venture is US$266.7 million.

General Motors owns 25% shares and plus one share in the new venture and it can increase its share up to 40%. Currently, Uzavtosanoat possesses 75% shares in GM Uzbekistan.

Association of European Businesses was founded in 1995 on the initiative of several European companies registered in the Russian Federation, Ambassadors of EU member states and the Head of the Delegation of the European Commission to the Russian Federation.

The mission of the AEB is to represent and promote the interests of its Members by supporting them in doing business with and in Russia through quality lobbying, information support, and through activities aimed at improving the Russian trade and business environment in conformity with internationally accepted business principles and promoting integration and partnership between the European Union (EU) and Russia.