Car prices within Kayin State rise amid month-long suspension of Japanese imports into Thailand

Hpa-an, July 11 – reports of a month-long suspension to the normal arrival of Japanese containers into the Thailand – Myanmar border region of Mae Sot has prompted a rise in the car market within Myanmar’s Kayin State, according to car sales agents from Myawady.

Changes to the Kayin State car market are reportedly dependent upon the state of play the neighboring Thai market as imported Japanese vehicles all make their way into Myanmar through the Thai – Myanmar border town of Mae Sot.

“The prices of all cars have appreciated a little. The reason is because Thailand has closed its doors to forthcoming Japanese containers for a month. It’s really limits the numbers of vehicles making their way into Myanmar. The price fell during the last few days, but news of the suspension has caused prices to appreciate once more.” said Ko Kyaw Gyi, a trader in Myawady’s car market.

A non-licensed Honda Fit 2004 model fetched just K1.5 million in Kayin State on 10 July, while a MARK II cost between K2.6-2.8 million; a Crown Royal Saloon (Engine 2.5) went for approximately K3 million; and a Probox 2009-10 model priced K2 million.

Sales have been slow within the car market, while the normal price has slightly increased for the CRV 1996 model to K3.2 million; the SURF 1997 model to K8 million; SUPER Custom 1996 model to K8 million; and a fully-equipped VOXY 2003 model to K3 million, according to the Myawady car market.

“Today we received some Honda Fits, which are going from between THB42,000-35,000. They fetch approximately K1.5 million as far as Hpa-an. The price of the vehicles is increasing as the number of vehicles left in stock is waning. It’s because of the suspension on importation of Japanese containers.” added U Kyaw Gyi.

Dependent upon car type and model, the price of a vehicle within the Kayin State car market has appreciated by approximately K100,000. However, this increase in price is reportedly only evident in unlicensed models, with there being no distinct change in the price of licensed vehicles, say traders with Hpa-an car market.

 

Source: Myitmakha Media News Agency

NB: The best way to find information on this website is to key in your search terms into the Search Box in the top right corner of this web page. E.g. of search terms would be “property research report”, ”condominium law”, “Puma Energy”, “MOGE”, “yangon new town”,”MECTEL”, “hydropower”, etc.

.

Looking for foreign investors to invest in your business in Myanmar