Uzbekistan used car market sees rising EV competition

Tashkent, Uzbekistan (UzDaily.com) — The Institute for Macroeconomic and Regional Studies under the Cabinet of Ministers of Uzbekistan analyzed the country’s used car market based on more than 1.4 million open listings posted on the OLX platform.

According to the study, the number of listings declined in April compared with March. After filtering out invalid ads and vehicles older than five years, the total number of offers stood at 13,500, which is 18.6% lower than the March figure. At the same time, the volume of listings was 59.6% higher than in April of the previous year.

Analysts noted a continued increase in the share of electric and hybrid vehicles. Their share of the market rose from 5.4% in June 2024 to 10% in April 2026. Over the same period, the share of locally produced vehicles declined from 53.7% to 47%.

The most in-demand domestically produced models maintained relatively stable price levels. The median price of a lightly used Chevrolet Cobalt remained at about US$12,900, while the Chevrolet Onix increased slightly to US$14,800. Prices for Chevrolet Damas, Chevrolet Labo, and Chevrolet Nexia models declined.

In the foreign car segment, price dynamics were uneven. Some lightly used Chery and Kia models became cheaper, while in the premium segment moderate price increases were recorded for Kia Carnival and Kia Sorento.

The study also highlighted growing competition from electric vehicles. Prices for BYD models were reported in the following ranges: BYD Seagull at approximately US$15,500–16,000, BYD Yuan Up at US$20,000–21,500, and BYD Chazor at US$20,500–22,000.

Researchers noted that price growth is uneven across segments. Entry-level vehicles remain highly liquid, while the luxury segment and some electric vehicle models show more pronounced price fluctuations.

The authors recommended that sellers focus on model-specific dynamics, vehicle condition, and rising competition from electric vehicles rather than relying on overall market trends. Buyers were advised to evaluate vehicles primarily based on consumer value and liquidity rather than investment potential, noting that some lightly used locally produced cars are already being sold below dealership prices.