Business communications specialist Timurmalik Elmuradov disclosed on LinkedIn that the number of electric vehicle (EV) charging stations in Uzbekistan skyrocketed from a mere three in 2020 to an impressive 450 in 2024. He attributed this growth to the overall expansion of the EV market in the country.
Shifting Automotive Landscape
While the broader automotive market in Uzbekistan has shown positive momentum, there has been a notable shift in consumer interest towards electric vehicles. Recent reports indicate a 7.8% decline in interest in EVs, accompanied by a 35% decrease in sales within the primary market, amounting to 2,000 units. However, it's crucial to highlight that this decline follows an extraordinary six-fold increase compared to the previous year.
Contrary to the primary market trend, the secondary market for electric cars has witnessed a surge. October recorded a remarkable 30% increase in sales, while September saw a more modest growth of 8.5%. This trend suggests that buyers are increasingly exploring used electric vehicles as a viable alternative.
Global EV Sales Dynamics
Despite some fluctuations in regional markets, global sales of fully electric and plug-in hybrid vehicles (PHEVs) experienced a notable 31% rise in 2023. While this growth rate represents a slowdown compared to the 60% surge witnessed in 2022, industry experts view it as a natural progression in maturing markets.
Fully electric or battery electric vehicles (BEVs) accounted for a significant portion of global EV sales in 2023, with 9.5mn units sold out of the total 13.6mn EVs worldwide. Plug-in hybrid vehicles (PHEVs) constituted the remaining share. As per the Rho Motion data manager Charles Lester, while the pace of growth may be moderating, such trends are expected in evolving markets, where exponential growth rates are unsustainable in the long run.
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