Early May sparks surge in automobile demand and supply

Sales and purchases in the automobile market have increased since the beginning of May, according to U Kyaw Swa Tun Myint, secretary general of the Myanmar Automobile Manufacturers and Distributors Association.
There were more purchases in the auto market with frequent sales and purchases in early May, and depending on the market conditions, it can be more active in mid and late May, he said.
“It was normal until the end of April after Thingyan with the purchase of some who needed cars and the sales. There was more demand, but not very active. It was more active at the beginning of May. According to the market, it can be more frequently traded in mid-May and late May every year. If there are no other significant changes, such as notifications, announcements and pandemics, the trading will be normal. Especially, it can be more active in the school opening season,” he said.
In June, at the beginning of the school opening season, people buy or change cars, so car sales and purchases can be more frequent, he said.
“ In June, when the schools reopen, some buy or change cars, so car sales and purchases can be more frequent. It is regular every year. This is not the state where no deal is done. Now, there are more sales. With more sales, there are more purchases. If compared to the previous time, it can be said to be more active,” he said.
Cars worth K30-K40 million to more than K100 million are sold regularly in the market. — MT/ZN