Central Asia: Passenger Car Market 2024

Passenger Car Market Size in Central Asia

The Central Asian passenger car market expanded remarkably to $X in 2021, rising by 11% against the previous year. In general, consumption continues to indicate a strong increase. Over the period under review, the market attained the maximum level at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Passenger Car Production in Central Asia

In value terms, passenger car production rose slightly to $X in 2021 estimated in export price. Over the period under review, production saw a significant increase. The pace of growth appeared the most rapid in 2016 when the production volume increased by 74,938%. Over the period under review, production reached the maximum level at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Passenger Car Exports

Exports in Central Asia

Passenger car exports rose notably to X units in 2021, growing by 12% against 2020. In general, exports recorded a significant expansion. The pace of growth was the most pronounced in 2016 when exports increased by 1,383% against the previous year. Over the period under review, the exports hit record highs at X units in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

In value terms, passenger car exports skyrocketed to $X in 2021. Over the period under review, exports recorded a significant expansion. The most prominent rate of growth was recorded in 2016 when exports increased by 584%. The level of export peaked in 2021 and is expected to retain growth in the immediate term.

Exports by Country

Uzbekistan (X units) and Kazakhstan (X units) dominates exports structure, together making up 97% of total exports. Kyrgyzstan (X units) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Kazakhstan (with a CAGR of +61.1%), while the other leaders experienced a decline in the exports figures.

In value terms, Uzbekistan ($X), Kazakhstan ($X) and Kyrgyzstan ($X) appeared to be the countries with the highest levels of exports in 2021, with a combined 99% share of total exports.

Kazakhstan, with a CAGR of +74.3%, recorded the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the export price in Central Asia amounted to $X per unit, surging by 56% against the previous year. Overall, the export price posted a resilient expansion. The most prominent rate of growth was recorded in 2013 when the export price increased by 208%. As a result, the export price reached the peak level of $X per unit. From 2014 to 2021, the export prices remained at a somewhat lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Uzbekistan ($X per unit), while Kazakhstan ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Uzbekistan (+40.6%), while the other leaders experienced more modest paces of growth.

Passenger Car Imports

Imports in Central Asia

In 2021, passenger car imports in Central Asia surged to X units, increasing by 36% compared with the year before. Overall, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of 69%. The volume of import peaked at X units in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

In value terms, passenger car imports soared to $X in 2021. In general, imports enjoyed a measured expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Kazakhstan was the largest importer of passenger cars in Central Asia, with the volume of imports recording X units, which was approx. 43% of total imports in 2021. Mongolia (X units) took a 26% share (based on physical terms) of total imports, which put it in second place, followed by Tajikistan (12%), Uzbekistan (12%) and Kyrgyzstan (5.8%). Turkmenistan (X units) took a little share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Uzbekistan (with a CAGR of +28.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Kazakhstan ($X) constitutes the largest market for imported passenger cars in Central Asia, comprising 58% of total imports. The second position in the ranking was held by Uzbekistan ($X), with an 18% share of total imports. It was followed by Mongolia, with a 12% share.

In Kazakhstan, passenger car imports expanded at an average annual rate of +4.5% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Uzbekistan (+39.5% per year) and Mongolia (-4.1% per year).

Import Prices by Country

In 2021, the import price in Central Asia amounted to $X per unit, picking up by 37% against the previous year. Over the last nine-year period, it increased at an average annual rate of +4.0%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Turkmenistan ($X per unit), while Tajikistan ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Kyrgyzstan (+12.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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