Uzbekistan’s car market update: Electric vehicle share doubles as local brand dominance dips

According to a recent analysis by the Institute for Macroeconomic and Regional Studies (IMRS), based on data from the OLX platform, the composition of the secondary market is evolving rapidly.

In a span of less than two years, the share of electric vehicles in total market listings has nearly doubled. While EVs accounted for only 5.4% of advertisements in June 2024, that figure climbed to 10% by April 2026. Conversely, the market share for locally manufactured cars dropped from 53.7% to 47% during the same period.

Activity on the secondary market saw a month-on-month decline this spring. Total listings in April reached 13,500 – an 18.6% drop compared to March. Despite this monthly dip, the market remains significantly more active than it was a year ago, with total advertisements up by 59.6% compared to April 2025.

Price trends for local and budget models

Prices for popular domestic models have remained relatively grounded. The median price for a low-mileage Chevrolet Cobalt has stabilized at approximately $12,900. Meanwhile, the Chevrolet Onix saw a slight uptick, with prices reaching $14,800. Some budget-friendly options, including specific Damas, Labo, and Nexia models, actually experienced a price decrease.

Looking at the broader six-month trend, the market value of the Lacetti and Cobalt has either stagnated or decreased on a monthly basis. In contrast, mid-range models like the Malibu and Tracker have shown price instability, fluctuating without a clear upward or downward trajectory.

Foreign brands and the electric segment

The foreign car segment currently displays mixed dynamics. While some lightly used Chery and Kia models became more affordable, high-end luxury options followed a different path. Middle-aged and older Kia Carnival and Sorento models, for instance, saw their market prices rise.

In the rapidly expanding electric vehicle sector, Chinese manufacturer BYD continues to set the pace. The BYD Seagull is currently priced between $15,500–16,000, while the Yuan Up ranges from $20,000–21,500. The Chazor is trading in the $20,500–22,000 bracket.

As the market continues to diversify, the increasing availability of EVs and the stabilization of local car prices suggest a more competitive environment for Uzbek consumers, moving away from the supply-constrained realities of previous years.