Uzbekistan's car market saw demand rise in January

In the first month of this year, there were 144.5 thousand vehicle registrations and re-registrations at the State Traffic Safety Department, marking a 14% increase over the same period in 2023.

Car sales totaled 128 thousand units or 6% more than in December. The monthly growth was slightly more modest than at the beginning of the past two years.

However, compared to January 2023, there was an 8% increase, with the highest rates of growth observed in the Navoi, Fergana, and Bukhara regions.

The primary segment of the car market showed a rise of 1.4% over the month and 22% year-on-year. Demand for products from the local automotive industry hit 28 thousand cars, which was a 20% increase from the previous January.

There was also a continued surge in the sales of foreign brands, with Uzbeks purchasing 3.47 thousand imported cars in the first month, 5.7% above December's figures and more than a third higher than the start of last year.

On the secondary market, over 96 thousand cars were sold, which is 7.6% more than the previous month. The demand for used cars increased by 4.4% compared to January of the previous year.

Despite these increases, the electric transport segment saw a slowdown. In January, 3.3 thousand electric passenger cars were sold, 7.8% less than in December, yet the demand was still 7.7 times higher than the previous year.