Myanmar car prices stable after recent surge; more buying on credit

04, Dec. 2018

YANGON, NNA – Automobile prices have stabilized in Myanmar after a recent spike, prompting more purchases on credit, dealers in Yangon told the local newspaper Global New Light of Myanmar.

“The prices of cars remain stable. While there are fewer right-hand drive vehicles as their import is no longer permitted, domestic buyers prefer them,” U Aung Than Win, the chairman of the Myanmar Automobile Purchase and Sale Enterprise (Yangon), was quoted as saying.

Among the popular right-hand drive vehicles are the Toyota Probox, Honda Fit, Honda Wish, Toyota Kluger and Toyota Alphard, priced in a range of 15 million kyat to 40 million kyat ($9,628 to $25,674), he said.

The number of buyers paying in instalments has risen 40 percent to 50 percent this year compared to last year, said U Min Min Maung at MMM Car Sale Center, according to the report.