Wednesday, February 20, 2013

Car prices on the rise in Yangon

Wednesday, 20 February 2013 15:36 Khin Myo Thwe

The Myanmar Automobile Association announced last week that the price of motor vehicles in Yangon has increased significantly.

Hantharwaddy Car Market (PHOTO: MB Stock)

“Custom duty fees have increased from 400,000 kyat (US $466) to 500,000 kyat ($583) this week alone,” said Min Oo, a spokesperson from the Myanmar Automobile Association. “Meanwhile, at auctions, a second-hand car which would have cost 500,000 kyat has doubled to 1 million kyat.”

Similarly, a regular car permit has increased from 8.1 million kyat ($9,446) to 8.8 million kyat ($10,262) plus tax.

And taxi permits have also increased to 1 million kyat ($1,166) each.

Car importers said that 150 cars are being sold every month in Yangon showrooms, while 500 second-hand cars are sold on average per month at the Hantharwaddy Car Market.

Post-2007 models with small engines are in highest demand, they said.
Related articles:
  1. Myanmar imports 130,000 cars in 15 months
  2. 40,000 new cars on Burma’s roads

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