Yangon Sees Strong October Sales in Auto Market

Yangon’s car market saw an upward trend in October because of strong local demand, according to auto traders from Old Thiri Mingalar market, one of Yangon’s largest car market.
The traders said the the second week of October in particular saw an increase in trade, with the most popular models being the Toyota Belta and Toyota Probox, priced at about K10 million ($10,000), which was purchased by buyers travelling from across the Yangon region.
Representatives from Min Ye Kyaw Swar Dealing station at the market said that sales have been particularly strong since the middle of October, with customers travelling from as far afield as Mandalay and Taunggyi to purchase cars.
Ko Zay Yar from Future Auto centre also had seen progress in the market after it had slowed recently.
“Business has improved recently and is not slow like it was in the past,” said Ko Zay Yar.
“A lot of foreign investments are coming in now and people are getting wealthier. Also, the government has lifted many restrictions on car imports and sales, and is building better roads in Yangon. So, people are choosing to get new cars,” he added.
Most popular car models in the current market are from well-known Japanese brands like Mazda, Nissan and Toyota, with the Toyota Belta 2008 model selling for around K14.5 million ($14,500), the Nissan March 2008 for K12.3 million ($12,300) and the Mazda Demio for K1.09 million ($10,900), traders said.