In Myanmar’s automobile market, electric vehicles (EVs) sell steadily but petro car sales are sluggish, according to U Min Min Maung, chairman of Yangon Region Automobiles Manufacturers and Distributors Association.
“EVs were selling well before. We heard that more permits have been granted to the companies recently, but the market has slowed down a bit. It is just selling steadily. Petrol cars were sold at good prices for one month, but it became slow,” he said.
The market slackened in the second half of 2023, resumed trading at the end of 2023 and became slow again in mid-February.
“Especially, the price of SKD cars worth less than K 100 million increased by K 7 million. It was almost three days. During these days, the market has slowed down again. The market is in a wait-and-see mode with few buyers and many sellers,” he said.
The price of left-hand drive cars worth K 100 million increased by 10 per cent and those worth K100-200 million by 7 per cent, he said.
However, the price of K400–K 500 million cars hasn’t increased at all, he added. — MT/ZN/ED
