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    Uzbekistan Economics

    EVs claim 10% of Uzbekistan’s total car market in 1Q24

    EVs claim 10% of Uzbekistan’s total car market in 1Q24

    In 1Q24, the electric car segment in Uzbekistan expanded to 10% of the total car market, the Autostat analytical agency reports. The total car sales during this period amounted to 89,938 units, marking an increase of 26.8%.

    Photo: EV cars
    Source: Yandex

    Historically, Uzbekistan's automotive sector was dominated by a state-owned enterprise producing vehicles under the Chevrolet license. Recent governmental reforms aimed at liberalizing the market permitted the importation of cars, including electric models, and encouraged foreign investment in domestic production facilities.

    Despite an increase in Chevrolet’s sales volume, its market share declined. This change is attributed to the increasing variety of available car models, particularly imported and electric cars, which are becoming more prevalent in Uzbekistan's market landscape.

    In January 2024 alone, Uzbekistan imported approximately 1,600 electric cars, predominantly from China, as reported by the Statagency under the President of the Republic. Of these, 1,577 cars were imported from China, with the remainder sourced from the United Arab Emirates and other countries.

    The Uzbek government facilitated this growth through a series of incentives and privileges for automotive manufacturers investing in local production. This strategic move aims to diversify the types of vehicles available in the market and enhance the domestic automotive industry, particularly in the electric vehicle sector.

     

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    13.04.2024, 13:04   Comments (0)   3952
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