GM Uzbekistan’s market share makes up 12.76% in Kazakhstan in 3Q 2011
Tashkent, Uzbekistan (UzDaily.com) --
GM Uzbekistan, an Uzbek-US joint venture, claimed the second place on the volume of automobile sales in Kazakhstan in the third quarter of 2011, consulting company Qncepto said in its report.
The company said that GM Uzbekistan realized 1,262 cars in Kazakhstan in July-September 2011 against 575 cars in the third period of 2010. The market share made up 12.76%.
Lada with the market share of 31% was on the first place on the sales volume, the company said. In the reporting period, Russian car sold 3,069 cars in Kazakh market.
Sales of Hyundai cars, produced in Russia, increased demand to this brand. In the third quarter, Hyundai sold 1,203 cars in the third quarter and was on the third place on sales volume in Kazakhstan.
In the result, Toyota fell from the second place to the fourth place in the reporting period as its market share in Kazakhstan fell from 14.6% to 9%. The Japanese firm sold 897 cars in the third quarter.
According to Qncepto, Nexia model of GM Uzbekistan became the bestselling model in the Kazakh market. In the third quarter of 2011, the model was the second bestselling car in the Kazakh car market. Hyundai Accent and Lada 2107 were on the second and the third place in the ranking.
Other model of GM Uzbekistan, Matiz, was on the eleventh place in the ranking of the bestselling cars in Kazakhstan in the third quarter of 2011 against the fourteenth place in July-September 2010.
Qncepto said that official deals sold 4,042 cars in Kazakhstan in September, or grew by 0.55% compared to August 2011 and 81.34% compared to September 2010. In the third quarter of 2011, the cars sales hit 11,865 units, which rose by 8.86% compared to the previous quarter and by 94.13% in the third quarter of 2010.
Number of sales of new cars, including LCV, in nine months of 2011 rose by 102.36% to 29,063 cars.
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.