What was happening with the car market in Uzbekistan: the key points of 2023 in the CERR overview

Over the past year, 1.69 million vehicles were sold, which is 18% more than in 2022. The peak values during 2023 were noted in May and October, when sales exceeded 156 and 186 thousand cars.

The situation in the primary and secondary car market

In 2023, 379 thousand new passenger cars were sold in Uzbekistan with an increase of 33% compared to last year.

As for the sales figures of domestically produced cars, over 333 thousand domestic passenger cars were sold in Uzbekistan in 2023, which is 25% more than last year.

Car production and loans

In two years, the production of domestic passenger cars increased 1.6 times from 236 thousand in 2021 to 395 thousand in 2023.

In addition, Uzbekistan residents began to take car loans more often. In particular, in 2022, the issuance of car loans increased 2.3 times to 19.6 trillion sums.

In just 11 months of 2023, the population received car loans worth 34.6 trillion sums, which is 4.4 times more than in the same period of 2021.

The market of passenger cars

Sales of new foreign-made passenger cars increased 2.4 times over the year and amounted to 46 thousand cars.

In 11 months of 2023, import of passenger cars increased significantly by 2.2 times and amounted to $1.56 billion (19.4 trillion sums).

The growth of import of cars in this segment of the car market was largely influenced by the reduction of customs duties.

Recall that in February 2022, the President of Uzbekistan instructed to halve customs duties on imported cars. It is noted that the rates should be gradually reset in order to stimulate competition in the domestic car market.

In particular, in Uzbekistan, the rates of customs duties on car imports were reduced in two stages: from February 2022 by 2 times (from 30% to 15%) and additional coefficients depending on the engine volume, and from January 2023 the rate was set at 15% with a decrease in the additional coefficient.

In addition, the increase in import of new foreign cars stimulated the reduction of customs duties on small cars.

Secondary car market

Over the year, sales of used passenger cars in Uzbekistan increased by 12.6% to 1.16 million cars.

The situation on the electric cars market

Interest in electric-powered cars in Uzbekistan continues to grow. In 2023, sales of passenger electric cars soared 4.3 times and amounted to 25.7 thousand electric cars.

Tashkent accounted for the largest share of sales of electric cars – almost 71%, the least was sold in Surkhandarya region – 123 electric cars.

For reference: The overview of the car market of Uzbekistan is one of the research areas of the CERR, which presents the dynamics of sales of vehicles of both domestic production and foreign cars. The data is presented both for the reporting month and for the period from the beginning of the year to the reporting month.

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