Steady sales of electric cars and slowing sales of petrol cars in automobile market

electric cars
Various sorts of cars at Yangon port.

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

Share this post
Hot News
Hot News
Thanlyin real estate attracts buyers, predicted to be better when bridge construction completes
Innovative bamboo products find growing demand in local market as natural decorations spread
Site museum displaying artefacts excavated from ancient Pyu Pinle (Maingmaw) City recommended
FXB Myanmar’s sewing, carpentry and welding free training courses draw a lot of attention
SAC Chairman Prime Minister Senior General Min Aung Hlaing and his wife Daw Kyu Kyu Hla, council members and their wives pour water on banyan trees
Myanmar’s chargé d’affaires attends ASEAN meeting with US Defence Official in Washington
Nay Pyi Taw hosts reading session on Buddha Day
Gala Dhamma ceremony marks Buddha Day on full moon of Kason 1386 ME
SAC Chairman Prime Minister Senior General Min Aung Hlaing, wife Daw Kyu Kyu Hla offer day meals to members of the Sangha who attended the ceremony of marking Buddha Day on Full Moon Day of Kason 2024
16th Kason Water-Pouring Event held at Uppatasanti Pagoda