October 03, 2016

Breaking News

News of auto policy causes licensed car price to rise

A worker cleans cars at a sales centre in Yangon. Photo: Aye Min Soe
A worker cleans cars at a sales centre in Yangon. Photo: Aye Min Soe

The news of the impending return to their point of origin for imported cars older than 2016 under a consignment system has caused car imports to decrease, resulting in the rise in the price of licensed cars, said Ko Lin Myat Soe, a car dealer.
The auto policy is submitted by heavy dealers of the cars. The slip price of the cars is on the rise. Currently, the cars with a legal license plate are offered at a high price, said Ko Min Min, a car dealer.
The prevailing price of the cars are Ks15 to Ks18 million for Honda fit (1300CC) with 2012 model and Ks14 to Ks17 for that of 2011 Model, Ks18million for Honda Insight (1300CC) with 2012 model; Ks14million for that of 2011 model and Ks13million for that of 2010 model, Ks15million for Toyota Ratics (1300CC) with 2013 model and Ks13million for that of 2012 model, Ks13million for Toyota Vitz (1300CC) 2011 Model and Ks11million for that of 2009model, it is learnt from a car market.
The Road Transportation Administration department (RTAD) has no plans yet to extend the period to make registration at RTAD for imported cars under 2015 consignment system. Over 10,000 cars are left without a permit, it is learnt.
Those imported cars under the 2015 consignment system have to be registered before the end of 2016. Some cars were withdrawn from the port in the middle of 2016. This being so, we would like to request to extend the prescribed period for registration, said an official from a car sale center.
Over 19,000 cars were individually imported in 2015 whereas Brand New Auto Showrooms imported over 6,300 cars, it is learnt.
The model year limit of the cars for 2017 is under discussion with the authorities concerned, although the rumour of the model year limit is spreading around the car market. The cars with 2009 and 2010 model are said to be permitted to import for the following year. However, the individual importers will be allowed to bring the cars with 2012,2013 and 2014 models, it is learnt from the car market.—200


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