Old Japanese cars have overwhelmed the Myanmar auto market due to its Government’s tax reduction policies and relaxed regulations on used cars, according to Kyodo News.
The Japanese news agency quoted statistics from the Myanmar Ministry of Transport which showed that the number of pre-owned vehicles from Japan is estimated to account for more than 90 percent of cars on Myanmar ‘s roads.
The country had around 390,000 cars registered as of October 2013, up about 50 percent from the number of 260,000 in April 2012.
Kyodo News said a utomakers also see strong potential demand for new cars, reporting that Suzuki Motor Corp. returned to Myanmar last year to resume its production of small trucks. Meanwhile, Nissan Motor Co. has also announced it will start manufacturing cars in Myanmar in 2015. Mazda Motor Corp. and Mitsubishi Motors Corp. also plan to sell new cars in this market.
At the same time, Japanese automakers will also face increased competition by those from Europe and the US , the news agency said, noting that Ford Motor Co. and General Motors Corp. have opened showrooms in the Southeast Asian country, and German luxury car brands such as BMW and Mercedes-Benz are also entering the market.-VNA
Đăng ký: VietNam News