GM Uzbekistan not to decrease prices for its cars

Tashkent, Uzbekistan (UzDaily.uz) -- GM Uzbekistan will not decrease prices to automobiles despite change of excise tax rate, the statement of the company said.

The company said Uzbekistan liberalized currency market from September 2017 and the prices for cars were fixed at the exchange rate of 4,210.35 soums.

In order to prevent negative impact of change of exchange rate to GM Uzbekistan’s activities, the excise tax for GM Uzbekistan cars was decreased to 5% in line with the governmental resolution from 5 September 2017.

This helped to compensate expenses related to growth of exchange rate and ensure stability of retail prices for cars.

So, the excise tax at the rate of 5% was set from 5 September 2017. The company will not decrease the car prices, it added.