Uzbekistan's automobile sector continues its upward trajectory, demonstrating resilience and growth despite a marginal slowdown. A recent report by the Center for Economic Research and Reforms sheds light on the dynamic landscape of the country's car market, with particular emphasis on the surge in electric vehicle (EV) sales.
Steady Growth Amidst Slowdown
In August, overall vehicle sales in Uzbekistan experienced a steady 2.4% increase, reaching 148,000 units. Notably, this marks a substantial 24% surge compared to the same period in 2022, showcasing the sustained expansion of the automotive sector.
Light Vehicles Performance
The primary contributor to the overall sales surge was the light vehicle segment, which exceeded 135,000 units—an uptick of 2.3% from the previous month. Khorezm region led the growth with a remarkable 17% increase, followed by Jizzakh at 12% and Syrdarya at 11%. The report indicates a commendable 24% rise in passenger car sales, demonstrating a strong demand for personal transportation.
Primary Car Market Highlights
The primary car market witnessed robust growth in August, with 37,700 new cars sold—a 9% increase from the preceding month. Comparatively, the growth in the primary car market was more than doubled compared to August 2022.
Domestic production played a significant role, with 32.6 thousand new locally manufactured passenger cars sold, showcasing the success of the national automotive industry.
Foreign-Made Cars Market
Sales of passenger cars produced abroad also experienced an 8.7% increase in August, with 5,400 units sold. This signals a healthy demand for foreign-made vehicles in Uzbekistan's market. However, the secondary market for passenger cars saw a marginal decline of 0.1% during the month, attributed to UzAuto Motors' renewal of contracts for popular models, impacting sales temporarily.
Rising Electric Vehicle Adoption
A standout feature of Uzbekistan's automotive landscape is the accelerating adoption of electric vehicles. In August alone, sales of light electric cars surpassed 3.7 thousand units, reflecting a substantial 38% increase from July.
Tashkent city emerged as the primary hub for electric car sales, accounting for 2.8 thousand units, followed by Tashkent region (250) and Fergana region (139). The remarkable growth in electric vehicle sales is further underscored by a fivefold increase compared to last year.
Electric Cars in the Primary Market
Sales of electric cars in the primary market reached 3.2 thousand units in August, marking a significant 35% increase from the previous month. This figure surged by an impressive 7.3 times compared to the same period in the previous year, highlighting the accelerating shift towards electric mobility.
Secondary Market Success
The secondary market for electric cars witnessed a remarkable 56% surge in sales during August, totaling 497 units. This represents an 89% increase compared to August 2022, indicating a growing interest in pre-owned electric vehicles.
Conclusion
Uzbekistan's car market showcases resilience and adaptability, with consistent growth in overall vehicle sales and a remarkable surge in the adoption of electric vehicles. The nation's commitment to a diverse automotive landscape positions it as a key player in the regional market, offering a glimpse into the future of sustainable and electric mobility.
