Publication: Monitor Volume: 4 Issue: 133

The new Uzbek-South Korean joint venture Uz-Daewoo has doubled its car sales in Russia to 5,500 during the first six months of 1998, cutting into the market share of Russia’s Avtovaz. Uz-Daewoo achieved the sales growth by cutting the price of its passenger cars by 10 percent, to an average of US$11,000. The move responded to a similar price-cutting decision by Avtovaz. Uz-Daewoo began serial production last year. It is still a long way from reaching the projected capacity to assemble 200,000 cars per year. (Russian agencies, July 12)–VS

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