Second-hand car sales centers likely to close down by 2019

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Cars displayed at a sales center. Photo : Phoe Khwar

All second-hand car sales centers are possible to close down by 2019, said Dr. Soe Tun, president of Myanmar Automobile Manufacturers and Distributors Association.
“Of a rough estimate of 200 sales centers, one-third of them are already closed. The remainder still survive, as their lease contracts have not expired yet. All sales centers are likely to close down”, he said.
Under new car import policy, right-hand vehicles are not allowed, starting from 1 January, which hiked up the prices of second-hand cars with right-hand drive, Dr. Soe Tun continued.
At present, new auto market is booming and vehicles imported on a system of vehicle assembly, known as Completely Knock-down (CKD)/ Semi Knockdown (SKD), are on the upward trend with the US dollar exchange rate appreciation and Myanmar currency depreciation.
Cars installed locally will possibly get more market shares in 2019. Eighteen companies have been permitted for locally produced cars under CKD/SKD system.



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