THE car market has returned to normal trading by the end of April, with more cars priced between K50 million and K100 million sold, according to the industry.
The earthquake on 28 March hit two major car markets, Mandalay and Nay Pyi Taw, but sales returned to normal in April despite concerns for standstill markets.
“The trading is not good, but it is normal. More ICE cars are traded -fuel cars, petrol cars and diesel cars. It is easier to sell those priced between K50 million and K100 million. Sale numbers are small for those between K100 million and K200 million,” said U Kyaw Swa Tun Myint, general secretary of the Myanmar Automobile Manufacturers and Distributors Association.
The auto market usually sees more trading from May to September after Thingyan festival, and if there are no special instructions, the car prices reach a reasonable level.
“When there is a natural disaster, impacting the economy, we don’t expect a lot of good sales. Normally, good sales start around May, and peak in June and July. This year, we can’t expect it for sure. However, as there are necessary transactions, there’s no way it’s going to get any worse,” he said.
Since there is no chance of the price falling below the current market level, he recommends not to unnecessarily sell cars based on rumours. — MT/ZN
