Kazakhstan’s automobile industry shows signs of recovery

ALMATY (TCA) — In January-May this year Kazakhstan’s automobile industry showed first signs of recovery, Novosti-Kazakhstan news agency reported with reference to the country’s union of automotive enterprises KazAutoProm.    

In January-May 2016, Kazakhstan manufactured 2,636 motor vehicles worth 16.9 billion tenge.

“May 2016 saw the production of 1,199 motor vehicles worth a total of 5.3 billion tenge (including trucks and buses). Production of cars in May this year (1,072 cars) almost doubled compared to April, showing a 95-percent growth,” KazAutoProm’s press service said.

Car production in May this year grew 6.3 percent compared to May of last year.

In January-May, Kazakh auto-makers sold 3,596 vehicles.  

“Kazakhstan’s automobile industry was among industries that have suffered the largest losses due to the volatility in the currency market and worsening of the macroeconomic background in 2014 and 2015,” the press service said.

In January-May this year, official dealers sold 17.3 thousand cars compared to 43.7 thousand in the same period last year (a 60-percent decrease).

KazAutoProm said that expansion of budget car models by domestic car-makers will help recover Kazakhstan’s automobile production in the second half of this year.

KazAutoProm was established in 2015 by the country’s largest automobile producers Semipalatinsk Auto-assembling Plant, Daewoo Bus Kazakhstan, Asia Auto, and BIPEK AUTO Kazakhstan. The union’s members account for more than 60 percent of Kazakhstan’s automobile production and over 45 percent of the new automobiles market.