Brand new cars popular despite high demand for right-hand drive vehicles
While brand new cars sold under installment plans are popular among buyers, the demand for right-hand drive vehicles is still high and they are commanding good prices in the market. According to the market, car dealers are hoping for the implementation of the Yangon Vehicle Quota Certificate (YVQC) system, which was been discussed by the vehicle import supervisory committee and forwarded to the authorities.
Sales of right-hand drive cars have remained high amid news of the YVQC, with prices ranging from K 20-68 million, depending on the model year. Vehicles assembled locally under the SKD system and sold under installment plans are ranking second in terms of trade. According to the automobile market, the price of second-hand cars with right-hand drive vehicles shot up in late 2018 after the authorities announced plans to implement a new car import policy in 2019, under which, imports of right-hand vehicles would be barred.
At present, the market for new cars is also booming, with buyers showing some interest in vehicles assembled locally under the Completely Knocked Down (CKD) and Semi-Knocked Down (SKD) systems. Eighteen companies have been permitted to assemble cars locally so far.
Source: Global New Light of Myanmar
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