Tashkent, Uzbekistan (UzDaily.com) - The car market was helped by the general revival of the economy and government programs to stimulate demand. The analysis of CEIR experts shows moderate growth, the demand in the car market is growing for the third month in a row.

The Center for Economic Research and Reforms (CERR) regularly analyzes changes in demand in the real estate and car markets. A gradual increase in demand in these markets in January-April of this year. indicates a recovery in economic activity in Uzbekistan.

In April this year, the demand of the population in the car market for the third month in a row shows moderate growth, having increased by 14.1% compared to March of this year. The growth in car sales was 355.9% compared to April 2020, and 19.6% compared to the same period in 2019.

In April 2020, this indicator decreased by 75.8% compared to February, and by 63.1% compared to March.

During the reporting period, the number of registered and re-registered cars increased rapidly in Tashkent (28.9%), Bukhara (31.4%), Surkhandarya (18.8%), Samarkand (17.8%) regions, while as a decrease was recorded in Jizzakh (6.0%), Khorezm (3.9%) regions.

In January-April 2021, 59.6 thousand new cars were registered. Of these, 2.9 thousand (4.9%) are foreign cars.

The regions in which the most foreign cars were sold were Tashkent (11.8% of new cars), Tashkent (5.6%), Samarkand (3.3%) and Khorezm (2.7%) regions.

The coronavirus pandemic has definitely impacted car sales in 2020; while demand for autos was high, stocks were hampered by the closure of production facilities and a shortage of chips, which became a global problem.

Economies around the world continue to show clear signs of recovery from the coronavirus pandemic. For example, the new car market in Japan grew by more than 29% to 349.9 thousand units in April 2021, compared with low sales of 270.4 thousand units a year earlier. Business sentiment has improved significantly over the past two months, despite new measures put in place by the government to contain the recent surge in COVID-19 infections, with industrial production and exports recovering strongly during this period.

The new car market in China grew 8.6% to 2.25 million units in April 2021 from 2.07 million in the same month last year. The country’s auto market has now fully recovered to pre-pandemic levels, thanks to deferred demand and low interest rates.

The widespread adoption of the COVID-19 vaccine and high sales of new passenger cars in April are cause for optimism for the remainder of 2021.

In conclusion, it should be noted that the real estate and auto markets in Uzbekistan are expecting a certain boom, determined by deferred demand. The number of transactions will continue to grow and may set local records, but prices will not rise sharply.