Uzbekistan’s auto market grows by 9% in August, but demand for electric vehicles drops by 50%

During the month, 111,000 cars were registered and re-registered with the Traffic Safety Department, which is 9% more than in July. However, market activity remains 25% lower than the same month in 2023.

The number of passenger cars sold reached its highest level since March, totaling 102,000 units. The monthly growth amounted to 11%, but on a yearly basis, demand decreased by 24.6%.

The highest growth in sales was recorded in the Surkhandarya region (+54%). There was also increased demand for cars in the Fergana (+25.4%) and Andijan regions (+24.8%).

In the primary market, sales nearly reached last year’s levels, with only a 1% decline compared to August 2023. Compared to July, sales rose by 22.4%, or nearly 7,000 cars.

Sales of new domestically produced cars saw the most significant growth. For the month, 34,000 units were sold, exceeding the previous month’s level by 22% and surpassing last August’s figure by 5%.

Additionally, over 3,400 new foreign-made cars were purchased by Uzbekistan residents, which is 25.6% more than the previous month. However, demand for them remains 38% lower than last year.

In the secondary market, sales continued to recover, reaching 64,600 cars. Compared to July, they increased by 5%, but this is still one-third lower than last August.

Sales of electric vehicles halved compared to July, dropping to 1,700 units. The majority of the decline occurred in the capital, where demand for electric vehicles fell by two-thirds.

The market for used electric vehicles declined less than for new ones — 37% compared to 53%. CEIR noted that the secondary electric vehicle market grew by 20% year-over-year.