Car sales in Uzbekistan are declining, but there is growth in the electric vehicle segment
Business
For the third consecutive month, there has been a decrease in activity in the car market. Only in the segment of passenger electric vehicles a slight increase was recorded. This is according to data from the Centre for Economic Research and Reforms of Uzbekistan.
According to the Centre, as of March, the total sales of vehicles in the country amounted to almost 109,000 units. Overall, the car market decreased by 5.8% over the month.
In March, 96.5 thousand passenger cars were sold, which is 12.1% less than the previous month.
Regionally, the most significant decline in passenger car sales was noted in the Surkhandarya, Ferghana, and Navoi regions.
For the first quarter of 2024, passenger car sales decreased by 3.2%, totaling 334.3 thousand cars.
During the month, the foreign car market decreased by 13.7%. In total, 2.3 thousand foreign cars were sold in March. Compared to March last year, sales fell by 20%.
In the secondary market, sales decreased by 10.6%. In total, 74.6 thousand used passenger cars were sold in March. In annual terms, there was a more noticeable decline by 16%.
The electric car market has started to stagnate. In March, sales of passenger electric cars increased by only 0.1%. However, in annual terms, sales increased 2.4 times
The automotive industry holds one of the leading places in the economy of Uzbekistan. A significant number of the country's population is employed in this industry. The automotive industry of Uzbekistan ranks between 28th and 37th among countries manufacturing vehicles. Since 1998, Uzbekistan has been a member of the International Organization of Motor Vehicle Manufacturers (OICA).
In March, 96.5 thousand passenger cars were sold, which is 12.1% less than the previous month.
Regionally, the most significant decline in passenger car sales was noted in the Surkhandarya, Ferghana, and Navoi regions.
For the first quarter of 2024, passenger car sales decreased by 3.2%, totaling 334.3 thousand cars.
During the month, the foreign car market decreased by 13.7%. In total, 2.3 thousand foreign cars were sold in March. Compared to March last year, sales fell by 20%.
In the secondary market, sales decreased by 10.6%. In total, 74.6 thousand used passenger cars were sold in March. In annual terms, there was a more noticeable decline by 16%.
The electric car market has started to stagnate. In March, sales of passenger electric cars increased by only 0.1%. However, in annual terms, sales increased 2.4 times
The automotive industry holds one of the leading places in the economy of Uzbekistan. A significant number of the country's population is employed in this industry. The automotive industry of Uzbekistan ranks between 28th and 37th among countries manufacturing vehicles. Since 1998, Uzbekistan has been a member of the International Organization of Motor Vehicle Manufacturers (OICA).
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