In June 2021, population demand in the car market showed moderate growth – a 13.7% increase compared to May this year, the Center for Economic Research and Reform (CER) reports.
This figure increased by 12.9% compared to June 2020 and 29.6% compared to June 2019.
During the reporting period, the number of registered and re-registered cars increased in all regions (except the Sirdarya region). The highest growth rates were recorded in Namangan (22.6%), Navoi (20.9%), Samarkand (18.8%), Ferghana (16.2%) and Tashkent (16.4%) regions.
The results of the analysis show that there is a significant correlation between the volume of car loans and the demand for cars. An increase in car loans by 10% led to an increase in the number of registered and re-registered cars by 4%.
To note, that the republic issued car loans to the population in the amount of 2.67 trillion soums in January-May, which is 40.5% more than in the same period of 2020. The highest growth rates were recorded in Tashkent (growth - by 104.2% or up to 1.1 trillion soums), Khorezm (by 66.5% or up to 155.7 billion soums), Bukhara (by 49.8% or up to 152.2 billion soums), Andijan (by 42.7% or up to 95.2 billion soums) regions and Karakalpakstan (by 56.3% or up to 173 billion soums).
In June 2021, 18,900 new cars were registered, and 1171 (6.2%) of them were foreign produced cars.
The regions with highest number of foreign cars sold were Tashkent City (11.8% of new cars), Tashkent (5.7%), Samarkand (3%) and Khorezm (2.4%) regions.
Given that in the previous year the Uzbek car market was rising, the influence of coronavirus can be considered minimal. The toughest phase of quarantine in February led to a 73.8% drop in vehicle sales, but already in June dealerships were again operating, and in the second half of the year the market completely regained previous positions, experts say.
