Jul 12, 2011

Traders: Myanmar-made vehicles selling well

Affordable, locally made cars, vans and light trucks selling for about K30 million are in high demand, said dealers at Yangon’s Hantharwaddy car trading zone.

“Buyers are looking to buy low-priced vehicles for personal and business use. Since there has not been any government car auctions this year, the supply of alternative vehicles has dried up, which is driving demand up for locally made cars, which have also increased in price by about K1 million [US$1250] each.

“But the market for more expensive vehicles, worth K100 million or more is flat,” said U Aung Than, a car dealer at Hantharwaddy.

Another car dealer, U Mei Gyi, said: “Cars made here are trading well, particularly vans such as 2000-model Hiaces that are selling for K30 million each and Townace pick-ups that average about K20 million.

“I think buyers see the prices for these models as being fair and they are both quite versatile.”

U Thant Zin, who works as a car broker in Mandalay, said prices of locally produced vans and light trucks have also increased in that city by about K1 million since the start of the year.

Source: Myanmar Times