Sales to rise, prices to fall, say Yangon real estate agents

Real estate is likely to bounce back in 2016 after more than a year of depressed sales, while prices will fall as new supply comes online, said investors and agents. Following a relatively smooth election, the volume of transactions will be “back to normal”, they said, referring to last year when the industry was thriving. […]

20,000 car import licenses granted

Almost 20,000 individuals have been approved to import cars to Myanmar since the start of the year and over 9000 cars will be imported by companies or groups, according to documents seen by The Myanmar Times. An individual can apply for a car import licence by proving they have space to park it, under a […]

Tyred out: importers say tax policy favours used cars

Almost all of the cars imported to Myanmar last year were second-hand, due to a high tax on brand-new vehicles. The government should reconsider its policy relating to the import of new cars, say businesspeople. “As far as I know, most Myanmar citizens import used cars. According to the records from last year, brand new […]

Importers angry with parking rule

The government is not doing enough to provide car parking, even as it demands proof of a parking spot for each new vehicle import, according to car importers. In a bid to cut down on overcrowded streets, Yangon Region has required that importers have written proof of a parking spot from their local township administration […]

Ford Motor Company (NYSE:F) introduces new models to the Myanmar market

Ford introduces new autos to Myanmar market American auto maker Ford has introduced three new models to the Myanmar market through its local distributor Capital Automotive. The new cars are the Fiesta, Focus and EcoSport brands, with the Focus brand having been a particularly strong performer for the company globally in recent years. According to […]

Policy aims to lure automobile factories

A domestic car production industry may take shape in the future as a national plan is drawn up, though for now imported vehicles dominate, according to experts. Neighbouring countries such as Thailand have had success with their own auto assembly plants. Myanmar has also experimented with its own domestic production efforts – the results of […]

Online motor market gathers momentum

Internetfirms are attempting to promote online car sales in Myanmar, though some say consumers are slow to take up online vehicle retailing. With new brands and models entering Myanmar every day, proponents of an online auto marketplace say it allows for customers to conveniently browse a wide range of vehicles. “The main advantages for an […]

Ditching Clunkers, Car Imports Drive Burmese Demand for Oil

SINGAPORE / RANGOON — Burmese businessman Lay has doubled the number of cars he owns to six in just three years, as reforms in Southeast Asia’s poorest country unleash a wave of consumer spending. The opening up of the economy, with a loosening of military rule ending decades of isolation, has meant a surge in […]