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August 12, 2020

Car production up over 29% in 2019

Production of brand new cars in Myanmar showed an increase of 29.3 per cent in the 11 months from January to November in 2019, as per statistics released by the ASEAN Automotive Federation.
The production of cars in January-November rose to 14,042 units from 10,863 units registered in the year-ago period.
Meanwhile, the sales of brand new cars rose 25.4 per cent during the period compared against 2018. A total of 19,274 cars were sold between January and November as against 15,365 cars in the previous year, according to the ASEAN Automotive Federation.
Purchase of brand new cars on installment plans is popular among people. At present, the new auto market is booming and some buyers have shown interest in purchasing vehicles assembled under the Semi Knockdown (SKD) system. Eighteen companies have been permitted to assemble cars using the SKD system at local plants.
Under the 2020 vehicle import policy, only vehicles with a left-hand drive can be imported into the country. Additionally, 2017 will be the oldest model year for private cars for which import permits will be issued for non-commercial purposes under the consignment system, according to news released by the Commerce Ministry.
When vehicles with engines under 1,350 CC are individually imported, the model year must be 2018 and later. Passenger vehicles such as mini-buses, city buses, express buses, and commercial trucks manufactured in 2016 and later can be imported. – Ko Htet (Translated by Ei Myat Mon)

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