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June 07, 2018

Auto market remains cool with high prices

Despite the decline in car sales, numerous vehicles congest the roads of Yangon daily.

The auto market not only in Yangon but also in other regions and states has been cool with the highest price rate in May.
With a new tax rate on car imports and a levy on cars with a slip starting from 1st April, the number of cars imported with a slip declined during the post-Thingyan period.
Only the cars imported during the pre-Thingyan period were found to have a deal with a high price as the prices of the cars with slips after imposition of the new tax rate have not come out yet in the auto industry.
The sales of cars with slips are declining in the middle of May. Only cars such as the Honda Fit, vans and Beltas that have a Yangon license are in demand. But sales rate this year cannot keep up with that of last year.
Old buses later than 1995 models running under the Yangon Bus System need to be deregistered by 20th June so as to receive a slip for family-used car in return for deregistration, according to the private car owners.
Returning slips for cars after deregistration of old buses later than 1995 models was started in November 2016. The owners of those buses will have their licences withdrawn if they fail to deregister by 20th June, plus no granting of slips for the cars, said Daw Nilar Kyaw, Yangon Region Minister for Electricity, Industry, Transport and Communication.
Out of about 7,000 listed buses in Yangon Region, only 4,000 buses including old mini-buses, Dyna cars and BM buses are daily running. Those old buses will be slowly replaced with new buses purchased by the State and the private companies, it is learnt.




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