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CarsDB Auto Show sells over 500 cars

CarsDB, the online retailer reshaping Myanmar’s car market, sold over 500 cars at their auto show held on last month at The One Entertainment Park in Yangon. The event was aimed at car lovers, car retailers and those wishing to sell – all of whom gathered to browse and discuss all things car-related in the […]

Toyota to build factory in Myanmar

Toyota Motor Corp. is planning to build an automobile factory in Myanmar, The Yomiuri Shimbun has learned. An official announcement could come before the end of the month, with construction on the plant to start this year. The plant would be located in the Thilawa Special Economic Zone (see below) on the outskirts of Yangon […]

New policy aims to raise number of new cars on the road

The Ministry of Industry launched a new automotive policy this month, with the aim of supporting transport and auto-related business through sustainable development and more foreign direct investments. Under the new policy, the usage of left-hand drive vehicles will be promoted for road safety purposes. Control measures on imports of used right-hand drive vehicles, which […]

Japan insurers enter Myanmar in joint-venture frenzy

TOKYO/YANGON — Five Japanese insurers have teamed up with local players to enter Myanmar’s fledgling insurance market, looking to provide such products as annuities and automobile policies to a largely uninsured population. The Myanmar government announced in January that foreign insurance companies would be allowed offer products in the country, either on their own or […]

Japan’s Toyota Tsusho to run Myanmar’s first car auction

Toyota Tsusho Corp., the Toyota Motor Corp. group’s trading arm, will hold Myanmar’s first car auction later this month with local startup Rebbiz Co., with the aim of building a marketplace for used car transactions. T.T.A.S. Co., the official local dealership of Toyota Motor, has said they will host the first such auction in Yangon […]

Japanese fund vocational skills institute

The Japan International Cooperation Agency (JICA) has signed an agreement with the government to establish and fund the Japan-Myanmar Aung San Vocational Training Institute. Under the contract, which was signed on Tuesday in Yangon, JICA will provide ¥165 million (K2.32 billion/US$1.47 million) for the detailed design of the institute, the Japanese aid agency said in […]

Myanmar auto portal on fast track amid surging demand

THOUGH the lack of stable automobile policies in Myanmar is holding back the potential for an auto boom, CarsDB.com, the nation’s largest automobile marketplace, is confident it will be able to maintain its annual two-fold growth in revenue, according to Wai Phyo Kyaw, co-founder and chief operating officer of the company. “Since the past three […]

80 pc of automobile purchases related to installment system

About 80 per cent of all automobile purchases in the local market are linked to the installment system, said Dr Soe Tun, President of Myanmar Automobile Manufacturers and Distributors Association. The number of people who buy automobiles under the financing and hire purchase system of banks has increased. The number of those buying automobiles with […]

Comprehensive Auto Insurance Still a Hard Sell

  Approximately 20 percent of vehicle owners have bought a comprehensive coverage insurance policy despite the rising number of motor vehicles used for transportation. According to the state-run insurer Myanmar Insurance Enterprise (MIE), the number of vehicles users are increasing day by day, but only a few have purchased full coverage so far due to […]

Nissan to build cars in Myanmar for first time

YANGON — Japanese auto giant Nissan will start assembling cars in Myanmar for the first time this year, the company said Wednesday, as it expands its presence in one of Asia’s final economic frontiers. Foreign companies have piled into the Southeast Asian nation since reforms began in 2011, eager to tap into a 51.5 million-strong […]