Automotive industry

Kazakhstan’s automotive industry sees 24% growth by end of 2021

NUR-SULTAN – Kazakhstan’s automotive industry grew by 24% at the end of last year, according to the latest analyzes published by finprom.kz.

The cars are assembled in a factory. Photo credit: primeminister.kz

Overall, the production of cars, trailers and semi-trailers in terms of value reached 739.1 billion tenge ($1.5 billion) by the end of 2021.

The automobile industry plays an important role in the industrial production of the country. Despite the challenges facing the sector, Kazakh automakers are breaking records.

At the government meeting on March 15, National Economy Minister Alibek Kuantyrov said the mechanical engineering industry saw dynamic growth in January and February, including 10.2 percent growth in the ‘automobile industry.

According to finprom.kz, in the first two months of this year, the sector’s output reached 133.6 billion tenge ($277.2 million), compared to 93.5 billion tenge ($194 million) in the same period last year in monetary terms. This number represents 38.4% of the total production of the mechanical engineering segment, while the same figure hovered at only 32.1% at the end of 2021.

In two months, the country produced 14,300 vehicles, trailers and semi-trailers, including 12,400 passenger cars, 10% more than the previous year.

In 2021, Kazakhstan manufactured 93,500 vehicles. The article cites data from the Association of Automobile Enterprises of Kazakhstan which indicates that more than 60,000 vehicles – one and a half times more than a year earlier – were produced at Kostanai-based SaryarkaAvtoProm. Another 26,700 cars and light commercial vehicles were manufactured at Almaty production facilities.

Besides its domestic production, Kazakhstan also exports cars and in 2021, exports increased by 49%.

In 2021, two out of three cars sold in Kazakhstan were made locally. With the shortage of car components in the Russian car market and the devaluation of the tenge, buying cars made in Kazakhstan has become a more affordable option for citizens of Central Asia and Russia.