Electric vehicle sales drop in Uzbekistan amid overall automotive market slump

In June, monthly car sales fell again after a partial recovery the previous month, according to the Center for Economic Research and Reforms.

During the month, approximately 87,000 vehicles were registered and re-registered in Uzbekistan, which is 13.6% less than in May. Over the year, overall market activity fell 1.4 times.

Sales of passenger cars decreased by 13.3% compared to May and by 29.8% compared to June 2023. Sales dropped to the lowest level since early 2022, amounting to 77,600 units.

In total, in the first half of the year, people purchased 580,400 passenger cars, a decrease of 19%. Among the regions, demand fell the most in Karakalpakstan, Surkhandarya, and Andijan provinces (by 22%). However, since the beginning of the year, sales in Khorezm and Navoi provinces have increased by approximately 7%.

In the primary market, the decline in sales was comparatively small. Citizens purchased just over 26,000 new cars, which is 9% less than in May and 5.3% less compared to last June.

Sales of new domestic cars fell by nearly 10% over the month, though the annual losses were less than 1%. Demand for foreign cars increased by only 0.4% compared to May, reaching 2,400 units, but decreased by more than a third over the year.

The primary decline in activity occurred in the secondary market. In June, 51,500 used cars were resold, 15% less than the previous month and nearly 38% lower than last year.

In total, during the first half of the year, people purchased 425,700 used cars, a decrease of 24%. CERR experts attribute one of the main reasons to the tightening of requirements for re-registering cars, as well as the rising costs associated with their registration and re-registration.

A decrease in sales was also noted in the electric vehicle segment. Their sales amounted to about 3,000 units, nearly a quarter less than in May, although significantly higher than last year.