According to the latest March analysis from the Centre for Economic Research and Reforms, Uzbekistan’s passenger car sector is experiencing a period of significant acceleration. Total sales across both new and used vehicle markets surpassed 78,000 units for the month. This represents a 19% increase from February and a 20.6% jump when compared to the same period last year.
Regional performance
Market engagement rose across the vast majority of the nation. Only Jizzakh, Andijan and Samarkand reported a downturn in automotive trading.
The Surkhandarya region led the charge with a 51.4% boost in sales. The Tashkent region followed closely behind with growth of 46%. Other notable regional performers included Syrdarya and Navoi with monthly increases of 34.5% and 27.5% respectively. The capital city of Tashkent witnessed a 60.5% surge in market activity over the course of the month.
The primary car market
In March, approximately 31,000 new passenger cars were sold, marking a monthly rise of over 13% and a 37% year-on-year growth.
- Domestic Production: Newly manufactured domestic vehicles accounted for 25,000 of these sales. This segment saw a 3.8% month-on-month increase and a 26.5% rise compared to the previous year.
- Foreign Imports: The demand for new foreign-made cars accelerated at an even sharper rate. Sales nearly doubled from February to reach roughly 5,700 units, while year-on-year activity for imported vehicles more than doubled.
The secondary car market
Transactions for pre-owned vehicles were equally robust. March recorded 47,500 second-hand passenger car sales across the country. This reflects a 23% climb from the previous month and a 12% expansion on an annual basis.
Electric vehicle adoption
Uzbekistan’s electric vehicle (EV) sector continues to gain serious traction. A total of 5,500 EVs changed hands across the primary and secondary markets in March, reflecting a 24% increase against the same timeframe last year.
While four regions experienced a slight slump in EV interest, eight distinct regions recorded positive growth. The most noticeable surges in electric vehicle adoption occurred in Khorezm (where sales multiplied fivefold), Navoi (up 3.6 times), Jizzakh (up 2.9 times) and Fergana (up 2.2 times).
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