June auto market sees surge in deals

The automobile market sees some deals from the end of April to June, and it is more active in June, according to U Kyaw Swa Tun Myint, secretary general of the Myanmar Automobile Manufacturers and Distributors Association.
There were more sales with moderate prices from April to May for commercial vehicles at K30-40 million, private cars at K50 million, and luxury cars at K200 million.
“At present, the car market sees frequent deals from April and May. Some sold, some bought, and deals are good. Some think the price is up, but it is not related. Deals were made more in May than in April. It was more in June than May. As this is school opening season, some buy small vehicles and some ride school buses. Some sell their cars to start a business. Now, vehicles at K30-40 million commercial cars sell better. Private cars at K50 million sell well. Luxury cars at K 200 million also sell well. Deals are not very infrequent, but they are not very active for cars worth hundreds or thousands of millions,” he said.
At present, according to the dollar exchange rate, prices go up a little, but it is a reasonable rise, he said.
“Despite the change in dollar rate, car prices do not go up very much. Although the price of gold has changed, car prices have not changed much. People try to raise the price, but it cannot reach as much as they expect. The price goes up just to a reasonable level, I think. As the price of new cars goes up, so do the prices of old cars. As a whole, not all car prices go up. They go up to a certain level,” he said.
If there is no significant policy change, according to the car market nature, the sales resume from May and June till the end of the year. So, the car market is expected to be good as long as there is no change in the policy, he said. — MT/ZN/ED