Uzbekistan weighs sale of its largest automaker, UzAuto Motors

Uzbek authorities are preparing an international bidding process to sell state-owned stakes in UzAuto Motors and UzAuto Motors Powertrain, UzDaily.uz reported.

Assets for sale

According to Alisher Miraliev, deputy director of Uzbekistan’s State Assets Management Agency, the government plans to sell a 99.7% stake in UzAuto Motors and a 100% stake in UzAuto Motors Powertrain. He made the statement at the VIII International Conference «Capital Market of the Republic of Uzbekistan.»

Although authorities have not yet announced a timeline for the deal, they have already hired an international consultant to conduct a preliminary review of the assets and prepare materials for potential investors.

The country’s largest automaker

UzAuto Motors is part of Uzavtosanoat JSC and is Uzbekistan’s largest auto manufacturer. The company was established in 1992 as a joint venture with Daewoo. Later, it partnered with General Motors (GM).

In 2019, the Uzbek government bought out the foreign partners’ stakes and renamed the company. Although GM ceased to be a co-owner, the companies continued to cooperate.

An agreement between Uzavtosanoat and GM grants UzAuto Motors the right to manufacture vehicles under the Chevrolet brand and export them to CIS countries. This agreement expires in 2027. This means that whoever buys the company will need to negotiate with GM.

Competition with Chinese brands intensifies

Although UzAuto Motors has long been a key player in the local market, its market share is gradually shrinking as private automakers and Chinese brands grow. In the first half of 2026, UzAuto Motors’ share of passenger car production fell from 81.1% to 76.7%.

During the period, the company produced 196,900 passenger cars out of the 235,800 manufactured in the country. Directly and indirectly, the enterprise supports more than 30,000 jobs in the country.