EV sales in Uzbekistan soar 2.4 times amidst overall decline in car market

The decrease in sales follows a broader trend, as overall market activity fell by 25.5% compared to the same period in 2023. Although the sales of new cars and EVs increased, the total market contraction persisted, especially in light of a notable 0.3% reduction in light vehicle sales, which totaled 101,600 units in September. This marked a decline of 25.5% year-on-year.

Sales in the third quarter (July–September) reflected a similar trend, with 295,600 vehicles sold, representing a 26.8% year-on-year decrease. However, the primary new car market demonstrated some positive momentum. Compared to the previous month, sales of new light vehicles jumped by 10.3%, or approximately 3,800 units. This increase shows signs of market stabilization, as new car sales grew by 7.7% in September after a 1% decline in August.

In the foreign car market, growth slowed from a 25.6% rise in August to just 4.5% in September, with around 3,300 units sold.

The electric vehicle segment was a standout, recording remarkable growth. Sales skyrocketed by 2.4 times, the highest increase observed during the entire tracking period. In August, around 4,240 EVs were sold, while in September, sales reached nearly 1,700 units.

Regionally, Tashkent city saw the largest increase in EV sales, with 3,180 units sold, followed by Tashkent region with 285 units, and Andijan region with 119 units. On a yearly basis, EV sales grew by almost 17%.