Electric car sales in Uzbekistan drop by 26% in October

Sales of passenger electric cars in Uzbekistan have been declining for the second month in a row, the Center for Economic Research and Reforms (CERR) reported in its new report.

In October, 2,700 cars were sold, which is 26% lower than in September. The market sank especially noticeably in the capital, where 1,400 electric vehicles were sold compared to 2,500 in September.

Sales are growing compared to 2022, CERR noted. Compared to October 2022, 5.6 times more cars were bought in the Republic of Uzbekistan.

The electric vehicle market in Uzbekistan is seeing a surge in popularity with brands like BYD and Chery leading the charge. The BYD E2, a fully electric hatchback, is priced at UZS 184,260,000 ($15,035). On the other hand, Chery offers a range of electric vehicles such as the Chery EQ EV priced at UZS 115,592,440 ($9,432) and the Chery EQ5 at UZS 302,186,400 ($24,658). These competitive prices coupled with the increasing awareness about environmental sustainability are making electric vehicles an attractive option for consumers in Uzbekistan.

In the primary market for electric cars, there is a decrease of 35% (to 2,000), but by last year a 6-fold increase was noticeable. The secondary market in this segment, on the contrary, increased by 30% in October, and in September the growth was not so significant (+8.5%).

In Uzbekistan, a number of relaxations have been introduced to develop the electric vehicle market. Since 2019, the import of such cars has been exempted from customs duties and excise taxes. Starting from 2021, electric cars will not pay motor vehicle taxes.

The streets of Uzbekistan are increasingly being populated by Chinese electric vehicles, with brands like BYD and Chery becoming a common sight. This trend not only reflects the growing demand for eco-friendly transportation in Uzbekistan but also signifies a shift in consumer preferences towards international brands offering innovative and environmentally conscious solutions.

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