Uzbekistan’s motorcycle industry has seen a significant boost in 2023, with production increasing by 2.5 times, the Statistics Agency reports. Over 11M 2023, 9,300 motorcycles rolled off the assembly line. This surge in production is a testament to the growing demand for motorcycles in the country, driven by various factors such as customer preferences and market trends.
The average monthly volume of deliveries was approximately 850 units. However, these figures fluctuated from month to month, with November witnessing the production of 1,300 motorcycles.
Growth in passenger car production
The production of passenger cars in the republic is also on an upward trajectory. In the first 11M 2023, 355,250 cars were manufactured, marking a significant increase from the 282,230 cars produced during the same period in 2022.
This growth in car production is in line with the global trend of increasing demand for passenger cars. The Uzbekistan Passenger Cars market is projected to generate a revenue of $4.5bn in 2024, indicating a promising future for the automotive industry in the country.
The passenger cars market is projected to grow at an annual rate of 2.50% from 2024 to 2028, reaching a market volume of $5bn by 2028. In 2024, the volume-weighted average price of the market is expected to be $29,910.
The United States is anticipated to generate the most revenue, with an estimated $514bn in 2024. Concurrently, Uzbekistan is witnessing a rising demand for electric passenger cars, fueled by government incentives and an increasing consciousness towards environmental sustainability.
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