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The automotive market continues to show alarming trends. In October, only 95.4 thousand passenger cars were sold, which is 6% less than the previous month and 43.3% lower year-on-year. This data was published in a report by the Center for Economic Research and Reforms.
Regional Overview
The largest drop in sales was recorded in Tashkent (-18.4%), Fergana (-17%), and Andijan regions (-14.4%). These regions lead in terms of declining car sales, reflecting decreased consumer activity in key areas of the country.
Primary Car Market
Sales in the primary passenger car market fell by 15% compared to the previous month, amounting to a decrease of 6.2 thousand vehicles. Year-on-year, activity in the primary market dropped by 21.8%. Sales of new domestically produced cars decreased by 20% over the month, reaching 30.2 thousand units. Compared to October of last year, the decline was 22%.
Segment of New Foreign Passenger Cars
Amid the overall market decline, the segment of foreign passenger cars shows growth. In October, sales of foreign vehicles rose by 35% month-on-month, reaching 4.7 thousand units sold. However, year-on-year, sales in this segment decreased by 20%.
Secondary Car Market
Activity in the secondary car market also saw a notable decline. In October, 60.4 thousand passenger cars were sold, which is 23 units less than in September. The year-on-year decline was even more pronounced, with sales dropping by half compared to the same period last year.
Electric Vehicles: A Rapidly Growing Segment
Despite the overall decline in car sales, the electric vehicle segment continues to show significant growth. In October, the volume of electric car sales increased by 20% compared to September, totaling 5.1 thousand units (up from 4.24 thousand in September and 1.7 thousand in August). Notable growth was observed in Namangan and Fergana regions, as well as in Tashkent.
Over the past year, electric vehicle sales have grown by 87.5%, representing an increase of 2.3 thousand units. This indicates a significant shift in consumer preferences towards environmentally friendly vehicles.
The situation in the automotive market remains challenging, particularly in the segment of traditional vehicles. However, the growth in electric vehicle sales may signal a gradual change in consumer preferences. Amid decreasing overall consumer activity and high market volatility, the automotive market is likely to face further challenges, with the exception of the expanding electric vehicle segment, which seems poised for continued growth.
The article may contain inaccuracies as it is translated by AI. For more details, please refer to the Russian version of the article. If you notice any inaccuracies, you can send corrections via the Telegram bot: Uzvaibik_bot.
