UzAuto Motors comments on increase in car prices

As the press service of UzAuto Motors reported, the decision on price revision was due to market fluctuations and changes in the overall macroeconomic situation in the domestic and foreign markets.

“Customers, who conclude an agreement before March 4, 2020, will purchase a car at the price specified in the agreement,” the company emphasized.

The press service said that since the last price review in September 2017, there was an increase in the US dollar exchange rate against the soum, in the price of raw materials, in utility tariffs and in the cost of transport services.

In addition, the company, which previously had tax benefits, from October 2019 began to pay taxes on a common basis in accordance with applicable law, including VAT. It became known that in 2019, the company has already paid 2.5 trillion soums and more than 4.2 trillion soums should be paid in the current year.

“One of the areas that the company considers to be a priority for itself in the near future is the development of an installment plan and credit system for end consumers, which is widely used in the world practice. This direction provides for close cooperation with banks. UzAuto Motors is open for cooperation with banks that are ready to develop car loans,” the report said.

Reportedly, in 2019, as a result of lending programs, installments and special offers, more than 52,000 cars were sold to end consumers.

It should be recalled that the other day, UzAuto Motors announced new prices for cars. On average, prices rose by 15-21%.