Luxury European and South Korean car makers continue to struggle against Japanese dominance in the luxury used car niche, according to an online survey.
Motors.com.mm’s October survey show Japan’s Toyota used car brands are leading in Myanmar’s niche luxury car market with an 81 percent share compared with Western and South Korean luxury models.
One brand that is slowly edging into the market is Mercedes Benz, a status symbol that dominates the luxury niche in neighbouring Thailand, but hardly gets a look in on Myanmar roads, at least for now.
U Aung Thet Lwin, Mercedes-Benz’s sales representative with Cycle & Carriage Automobile Myanmar Company Ltd told Mizzima October 23, “The Toyota used car market has been dominating the luxury car market for a long time. So the new car market is still smaller than the used cars sector. But the branded or new car market is growing steadily.”
Yangon-based Motors.com.mm conducted an online survey from July to September based on online trading on its website, Country Manager Sascha Pasqual Woelk told Mizzima October 22.
Used cars made up 92 percent and new cars 8 percent, Mr Woelk told Mizzima.
Out of Toyota’s 81 percent share, models Mark II and Mark X lead the pack, with 22 percent and 16 percent respectively.
European and US luxury branded cars sales will increase, according to Mr Woelk, gradually beginning to give Toyota a run for its money.
Currently Germany’s Mercedes-Benz and BMW brands are standing at 2 percent, and South Korea’s Hyundai and KIA brands at 1 percent, according to the survey.
US leader Ford is currently absent from the website, Mr Woelk told Mizzima.
Ko Aung Zaw Moe, South Korean brand Hyundai’s sales representative with the Yangon-based Fortune Kolao International Motors Company Ltd, told Mizzima that new Hyundai models cannot compete with Toyota’s luxury used cars because the prices of Hyundai models are more expensive. But KIA and Hyundai brands are still popular in the branded luxury car market.
Source: MIZZIMA MYANMAR