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UzAvtoprom conquers foreign markets

10 October 2017 [17:37] - TODAY.AZ

By Azernews


By Kamila Aliyeva

Uzbekistan's automakers seek to enter foreign markets.

Presentation of the Uzbek automobile brand Ravon took place at the Uzbek Embassy in Ukraine.

The Uzbek brand Ravon (formerly UZ Daewoo) is already well known in Ukraine. This is the fruit of a joint venture between General Motors and Uzbek state firm UzAvtosanoat - GM Uzbekistan.

Ravon cars are already among the top ten most popular brands in Ukraine and have outstripped not only Russian AvtoVAZ, but also ZAZ, according to AUTO-Consulting.

Over 50,000 Uzbek cars have already been sold in Ukraine while since the beginning of this year more than 1,500 cars have been sold, according to the general director of UkrUzAvto.

Chief of strategic planning of UzAvtosanoat Sardor Tadjiev informed that for today the company has 183 dealer enterprises in 11 foreign countries with 60 of them in Ukraine. Moreover, the company intends to further increase this figure in Ukraine.

Currently, Uzbekistan develops a compact crossover Ravon, which will be equipped with a General Motors engine and is set to become a sales leader, noted Tadjiev. To stimulate the sale of Uzbek cars in Ukraine, UzAvtosanoat is currently working on special leasing and lending programs for Ravon.

At the presentation, Uzbek ambassador to Ukraine Alisher Abdulaliyev also noted that the automobile industry one of the main achievements of Uzbekistan's independence.

GM Uzbekistan, formerly known as UzDaewooAuto, was created in 1996 on a parity basis by Uzbekistan and South Korean Daewoo Motors.

In 2005, Uzbekistan acquired Daewoo's shares in UzDaewooAuto. In 2007, Uzavtoprom (Uzbek Association of Automotive Industry Enterprises) and the U.S.-based General Motors signed an agreement to establish the GM Uzbekistan with an authorized capital of $266.7 million.

General Motors owns 25 percent shares in the GM Uzbekistan plus one share with a possibility of increasing it to 40 percent. At the moment, 75 percent of the shares belong to the UzAvtosanoat.

URL: http://www.today.az/news/regions/165649.html

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