Uzbekistan’s Auto Market Grows by 9% in August, Electric Vehicle Demand Declines by 50%
Car sales in Uzbekistan continued to show growth in August, according to a recent report from the Center for Economic Research and Reforms. The month saw a total of 111,000 cars registered and re-registered with the Traffic Safety Department, representing a 9% increase from July. Despite this positive trend, market activity remains 25% lower than the same period in 2023.
The demand for passenger cars reached its highest level since March, with 102,000 units sold. This marked an 11% monthly growth, although on a yearly basis, demand was down by 24.6%. The Surkhandarya region recorded the highest growth in sales at 54%, followed by Fergana (25.4%) and Andijan (24.8%).
In the primary market, sales were nearly on par with last year’s figures, with only a 1% decline compared to August 2023. Sales saw a significant boost compared to July, rising by 22.4% to nearly 7,000 cars. Notably, sales of new domestically produced cars experienced the most substantial growth, with 34,000 units sold during the month, surpassing both the previous month and last August’s figures.
Among foreign-made cars, over 3,400 units were purchased by Uzbekistan residents, showing a 25.6% increase compared to the previous month. However, demand for these cars remains 38% lower than last year. In the secondary market, sales continued to recover, reaching 64,600 cars, a 5% increase from July but still down by one-third compared to last August.
Interestingly, sales of electric vehicles saw a significant decline in August, with only 1,700 units sold, representing a halving compared to July. The majority of this decline was observed in the capital city, where demand for electric vehicles dropped by two-thirds. However, the secondary electric vehicle market saw a more modest decline of 37% compared to new electric vehicles, and it even grew by 20% year-over-year.
Overall, the car sales market in Uzbekistan shows positive signs of recovery and growth, with domestic cars leading the way in sales and the secondary market showing resilience in the face of challenges.
