August 19, 2016

European companies not interested to establish auto manufacturing factories in Myanmar

European companies are not very much interested to establish auto car companies in Myanmar because cars manufactured from European countries are so expensive that only a small number of Myanmar can afford to buy, said an official from Myanmar Automobile Manufacturers and Distributors Association.
The prices of those cars are exorbitantly high, and thus, majority cannot afford to buy them. As a result of this, European auto manufacturing companies show near zero interest to set up the factory because they are bound to lose. It will take some time for them to make investment in this sector. When people have come to prosper later on, they might purchase those luxury cars, he added.
However, European companies have planned to open car showrooms in Myanmar to penetrate Myanmar’s auto market. Only Japan companies will make investment in establishing the auto manufacturing companies starting from 2017. —200


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