New Toyota Innova model hits Myanmar market

Global car company Toyota officially launched its Innova eight-seater compact multi-purpose vehicle (MPV) in Myanmar last Wednesday.

The Innova is the third model, after the Avanza and Rush, Toyota has introduce in Myanmar this year. The Innova specifically for the emerging markets in Asia including Myanmar.

The new Innova comes with a powerful 2.0 liter engine that the company says enhances fuel efficiency and performance. Also contributing to greater fuel efficiency is a new six-speed transmission designed to draw out the engine’s maximum potential.

The Avanza, Rush and Innova models are produced in Indonesia for all markets in the Asia Pacific region.

“At present, the Rush is among the best-selling vehicles in Myanmar, and we have already sold 1000 via three local dealers, so we are happy to introduce the Innova for Myanmar,” said U Myo Myint Thein, Chief Operating Officer of Toyota Aye and Sons compay.

The Innova, available for US$35,500 (K55.3 milliom) in eight exterior colours to choose from, comes with three-year or 100,000 km warranty and comprehensive after-sales support through authorized Toyota dealers. Bookings of the Innova begin this month.

“The car is priced higher than the Avanza and Rush, so we don’t expect as many orders as our earlier models. But we have already received orders order,” said U Myo Myint Thein.

After the government allowed the sales of new cars in Myanmar, dealers hoped that the market would develop rapidly to allow people to buy new cars rather than the reconditioned Japanese cars previously allowed. However, government policy is also dampening the market to some extent.

“The Yangon Vehicles Quota Certificate system is still not in place, in the mean time customers are buying new cars registered in other states and regions using their relatives or friends’ names. This is a risk and we discourage it,” he added.

“Buyers could face problems if the Yangon government implements regulations that disallow cars with licence plates from states and regions from parking in the city. No one is sure when the government will implement these regulations. Up until now, the government has allowed the buying of cars with licence plates from other states and regions.”

The exchange rate has also been something of a problem over the last month and the car market has been quieter since last month.

“When we introduced the Rush model in Myanmar, we received many order, but since last month, buyers have been holding back and our sales have dropped. We are addressing the issue by tightening our focus by only bringing in vehicles that there is demand for,” said U Myo Myint Thein.

SOURCE: MYANMAR TIMES

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