Tashkent, Uzbekistan (UzDaily.com) — Uzbekistan has revised its vehicle valuation rules, introducing new provisions into the Unified National Valuation Standard, Norma reports.

The updated regulation includes a dedicated section on vehicle assessment. Under the new framework, specialists evaluating damaged vehicles will now factor in not only repair costs and the extent of damage, but also the loss of market value—a significant change aimed at providing a more accurate reflection of a vehicle’s worth post-accident.

Importantly, when determining a vehicle’s market value, costs associated with organizing its sale will not be considered. The collection and analysis of relevant data—including technical details about the vehicle and current market conditions—will be carried out by a certified appraiser authorized to conduct such assessments.

The document outlines key sources of information that may be used during the valuation process. These include:

Information provided by the client or authorized representatives

Data collected by the appraiser during vehicle inspection

Information obtained from third parties, organizations, media, and online sources

Appraisers are allowed to use one of three primary valuation approaches:

Comparative Approach: Based on analyzing the market prices of similar vehicles and adjusting for differences in key characteristics.

Income Approach: Used when the vehicle is utilized for commercial purposes. This method calculates the current value of future income the vehicle is expected to generate. The direct capitalization method divides net operating income by a capitalization rate.

Cost Approach: Involves calculating the replacement or reproduction cost of the vehicle, minus accumulated depreciation.

These updated rules aim to create a more structured and objective system for determining the actual value of vehicles, especially those that have been damaged. By incorporating the concept of market value loss, the changes align Uzbekistan’s valuation practices more closely with international standards.