Entry of EVs stimulates transactions of vehicles under K50 million

Auto enthusiasts are taking interest in the entry of electric vehicles-EV and motorcars valued under K50 million are being traded in the local automobile market, according to auto dealers.
Car dealer U Min Nyunt told the GNLM that the arrival of EVs shook the automobile market. Those who think EVs will come in at low prices sell out their reserved cars as well.
Automobiles worth over K100 million have a sluggish trade in the market and trade of those worth around and under K50 million is brisk, Ko Lin Lin, a car dealer, commented.
Doubts are rising among car buyers based on the facts that the weaknesses of EVs in travel distance and reliability in quality, compared to gasoline-powered vehicles.
The EV trend is driving sales of gasoline-powered cars to higher than normal. Most buyers are more interested in long-term-use gasoline vehicles that can easily be refueled at any time and take highway trips.
EVs are priced above K70 million and not sure if they are endurable against weather. The imported EV cars are superior in terms of model, but due to the high price, those who want to buy them are weighing in mind.
In the domestic auto market, transactions are being made between K22 million and K40 million for a Honda Fit (2008) model, between K21 million and K29 million for a Toyota Vitz (2007, 08 and 09) model, between K18 million and K25 million for a Suzuki Swift (2011-12) model, between K18 million and K30 million for a Nissan March 2011 model, between K55 million and K80 million for a Mitsubishi Fuso Canter (2006-08) model and between K18 million and K30 million for a Suzuki Carry Truck (2018, 2019) model. — TWA/CT

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