Although the prices of higher-end cars have dropped in the local car market, sales of cars around K50 million are in good condition, according to the car brokers.
“The car prices drop drastically like from K100 million to K70 million. There is no buyer. The transactions of cars below K50 million are in normal at proper bargain,” car broker Ko Sein Tun told the GNLM.
In July, the car factory suspended the operation for the difficulties regarding dollars and import processes of auto parts, and the car prices have rocketed in the market.
Later June, the car prices soared and the numbers of people who want to sell their cars were increasing by the end of September and there were no buyers, said the brokers.
“Currently, Toyota resumed the operation at Thilawa. The Hilux Revo and Hilux Adventure are on sale and the prices are over hundred billion of kyats. We cannot buy them easily, we have to pay K200,000 deposit for preorder. We don’t know the exact date when we get the car,” said car trader U Thein Lwin.
The Toyota planned to resume in February 2021 but it suspended due to political and economic issues including COVID-19 pandemic. In local SKD market, the Japanese, Korean and Chinese car makers get most of the market shares.
“In local car market, the transactions depend on the type of cars rather than the alphabet. The sales of car below K50 million are good,” said Ko Win Zaw.
The price of Honda Fit (2008) is between K22 million and K50 million while the Toyota Vitz (2007, 08, 09) between K19 million and K28 million, Suzuki Swift (2011-12) between K18 million and K25 million, Nissan March (2011) between K18 million and K27 million, Mitsubishi Fuso Canter (2006-08) between K60 million and K95 million and Suzuki Carry Truck (2018, 2019) VALARA between K19 millon and K30 million, according to the market.—TWA/GNLM