09:39 / 20.04.2024

Uzbekistan’s car market shows downward trend for third month in a row

In March, the market contracted by 5.8%. Over the month, only the passenger e-vehicle segment showed slight growth.

For the third month in a row, the Uzbekistan car market has seen a decrease in activity. At the end of March, the total volume of car sales in the country amounted to almost 109 thousand units, and the car market decreased by 5.8% over the month.

In March, 96.5 thousand cars were sold, which is 12.1% less than in February. By region, the largest decline in sales volumes in the passenger car market was noted in Surkhandarya, Fergana and Navoi regions.

At the end of the first quarter of 2024, sales of passenger cars decreased by 3.2% and amounted to 334.3 thousand vehicles.

There is a downward trend in the primary passenger car market. During the month, sales decreased by 16.7% and amounted to more than 24,000 vehicles. At the same time, this segment of the car market grew slightly (by 0.2%) compared to 2023.

In addition, 19,540 domestically produced passenger cars were sold during the month, which is 17.2% less than in March 2023.

Over the month, sales of foreign cars decreased by 13.7 percent. In total, 2,300 foreign cars were sold in March. Compared to March 2023, sales were down 20%.

In March, sales in the secondary market of passenger cars decreased by 10.6%. In total, 74.6 thousand used cars were sold in a month. There was a significant decrease in annual figures by 16%.

Experts noted that the electric vehicle market began to slow down in March. Sales of passenger electric vehicles increased by only 0.1% over the month. Annual sales volume increased 2.4 times. At the end of the first quarter of 2024, sales volume increased 3.7 times and exceeded 8 thousand cars.

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