Uzbekistan, Tashkent, April 20 / Trend D.Azizov /
GM Uzbekistan increased automobile sales by 67 percent year-to-year to 18,152 automobiles in Russia in January-March 2011, the Committee of Automakers Association of European Businesses reported.
The company sold 10,802 Nexia models in Russia in January-March 2011 (a growth rate of 76 percent over the same period in 2010) and 7,350 Matiz models (a growth rate of 54 percent).
In March, GM Uzbekistan's car sales grew by 73 percent, up to 8,354 cars, of which 4,929 cars were Nexia (a growth of 84 percent) and 3,425 Matiz (a growth rate of 60 percent).
According to the committee, the Uzbek automaker took ninth place in terms of commercial car sales in Russia in January-March 2011, including Nexia, which ranked eighth among the top-selling cars in Russia; Matiz ranked 18th place.
Uzavtosanoat and South Korea's Daewoo Motor created a joint venture, UzDaewoo Auto, on parity conditions with the charter capital of $200 million. In 1996 the venture launched a car production plant which cost US $650 million in Asaka, of the Andijan region. The capacity of the venture is 200,000 cars per annum.
In May 2005 Uzavtosanoat purchased 50 percent shares of Daewoo Motor in UzDaewoo Auto for about US$110 million. General Motors and Uzavtosanoat completed a creation process of GM Uzbekistan on the UzDaewooAuto base in March 2008. The new venture charter capital is $266.7 million.