UzAuto Motors reported total revenue of UZS 30.1 trillion in January–September 2026, down 13% from UZS 34.7 trillion in the same period last year.
The company's net profit stood at UZS 1.8 trillion, compared with UZS 3.5 trillion a year earlier, representing a decline of almost 50%.
The cost of sales decreased from UZS 30.6 trillion to UZS 27.2 trillion. However, this was not enough to prevent gross profit from falling from UZS 4.1 trillion to UZS 2.9 trillion.
Operating profit dropped even more sharply, declining 56.2% from UZS 2.9 trillion to UZS 1.3 trillion. Profit before tax also nearly halved, falling from UZS 4.09 trillion to UZS 2.15 trillion.
Falling domestic sales and growing inventories
The main factor behind the decline appears to be weaker demand in the domestic car market, which has reduced the company's revenue.
The trend is particularly evident in the Chevrolet Cobalt, one of UzAuto Motors' best-selling models.
In the first half of 2026, Cobalt production increased by 13.5% year on year to 82,951 vehicles. However, domestic sales fell from 67,580 to 40,936 units over the same period.
This means that only around 49% of the Cobalts produced between January and June found buyers in the domestic market. The remaining vehicles were either exported or added to inventories, although no detailed official breakdown has been published.
According to the Autostrada publication, as of June 30, 2026, the value of assembled but unsold Chevrolet vehicles held in UzAuto Motors' warehouses had reached $954 million.
The decline in demand is also forcing the company to reconsider a sales model that had remained largely unchanged for years.
Until recently, customers seeking popular models such as the Cobalt often had to make an advance payment of at least 50% and wait for months to receive their vehicles. Now, in an effort to attract buyers, the company is offering the model with discounts and interest-free installment plans at no additional markup.
