GM Uzbekistan sells 2,533 automobiles in Kazakhstan in 1Q

According to the Association, GM Uzbekistan sold 2,533 automobiles in Kazakhstan in the first quarter of 2013 against 828 cars in January-March 2012. The growth rate made up 3.06 times.

Share of GM Uzbekistan in Kazakh car market rose by 3.72 percentage point and made up 9.19% in the result of the first quarter of 2013.

GM Uzbekistan claimed the second place on the volume of sold cars in Kazakhstan in the first quarter of 2013, outrunning KIA (2,298 cars). Lada was on the first place with 10,057 sold cars in Kazakhstan in the first three months of 2013.

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.