CERR: Car sales declined noticeably in November 

In November, demand for cars in Uzbekistan decreased slightly, the Center for Economic Research and Reform reported.

The number of registrations and re-registrations of vehicles in the Traffic Safety Department for the month amounted to 147.5 thousand. Compared to the record October, the figure decreased by 19%, and by 7% compared to last year.

Sales of passenger cars dropped to 131 thousand units, which is 22% less than the previous month and 12% less. The most noticeable decline was observed in Surkhandarya, Kashkadarya and Fergana region.

As experts noted, the decline in sales is largely due to the cyclical nature of demand in the car market. At the same time, overall sales since the beginning of the year have increased by 16.4%, and in the passenger segment by 10.4%.

In the new car segment, monthly demand decreased by 21%, but increased by 16% by last November. Sales of locally produced cars amounted to about 31 thousand units, or 20% less than a month ago.

The number of new foreign cars registered was 4.4 thousand, or a quarter less than in October. On the other hand, the annual increase was 32% and significantly exceeded the general trend.

Sales volume on the secondary car market for the month decreased by 23% – to 95 thousand cars. Compared to last November, when the previous maximum was reached, the decline was 20%.

Sales of electric vehicles also continue to decline. Over the past month, Uzbeks bought 1.9 thousand electric vehicles, or 30% less than in October.

Demand for new electric vehicles showed a decrease of 28%, and in the used segment – by 36%. At the same time, compared to last year, sales increased 10 times and three times, respectively.