In Q1 of 2022, UzAuto Motors made 619.6 billion soums of net profit, which is by almost 75% more than in the same period in 2021, the company said in a quarterly report.
In January-March, Uzauto Motors’s revenue was at 8.6 trillion soums. This is almost twice the revenue for the same period last year (4.4 trillion soums).
The cost of manufactured products doubled compared to 2021 and 2022: from 3.55 trillion to 7.2 trillion soums. However, the company's gross profit amounted to 1.47 trillion soums, exceeding last year's figure by 64%.
The company's expenses for January-March topped 7.6 trillion soums, with over 143 billion soums paid in income tax, which is 2.15 times more than in the first quarter of 2021.
Net profit of UzAuto Motors in the first quarter reached 619.6 billion soums. For the same period last year, the figure was 75% less - 352.29 billion soums.
In three months, the carmaker produced 68,746 cars. In 2021, a total of 236,667 passenger cars were produced.
In February, President Shavkat Mirziyoyev instructed to increase production to 160,000 cars in the first half of the year, by the end of the year, production should reach 275,000 units. At the same time, Uzbekistan exported $43.8 million worth of cars in Q1, which is only 45.4% of the figure in January-March 2021.