Myanmar Auto Market at the new all time record! Indeed, following the recent years of rapid growth, in the 2019 the market struggled for the first three quarter, but the strong demand in Q4 allowed a recovery with final figures up 3.1% at 19.136. Suzuki is the king with share near 50% ahead of Toyota and Nissan.
Economic Environment
Myanmar’s economic growth was stable in the first six months of the new fiscal year (which now runs from 1 October to 30 September) from the interim period that ran from April to September last year, according to recently released data. A rebound in the agricultural sector supported the economy, whereas growth in the industrial sector and the services and trade sector moderated, likely hit by softer growth in manufacturing output amid a more uncertain global backdrop.
Turning to the second half of the fiscal year, a rebound seems to be on the cards for the manufacturing sector as the sector’s PMI averaged higher than in H1. Yet the erratic international backdrop and weakened world trade should have dragged on the external sector, limiting the overall expansion.
Market Trend
Myanmar vehicles market is under the positive effect of the new import rules introduction aiming to penalize the import of obsolete pre-owned vehicles and to support local distribution, responsible to provide appropriate service and vehicles maintenance.
Indeed so far the most of the circulating park has been fueled by the import of used vehicles, mainly from Japan and while this models have a more accessible price for a population still with a low purchase power, they had low emission and safety standard and high maintenance cost. Pushed by local representative of importers and manufacturers, in mid 2018 the government have opened a way to protect their business and investment, while keeping CO2 emission under control and vehicles maintenance cost acceptable.
The reduction of import fee on new vehicles and the barrier to extra ASEAN used vehicles import, gave more competitiveness to the new models and data on new vehicles registrations become almost positive, with the full year 2018 sales boomed at the all-time record of 18.500 units, sixth time more than in the 2013.
The growth was driven by the fast growth of the new local industry with the availability of local made models offered at affordable price, with great success for Ford (Ranger and Everest) and Suzuki (Ertiga, Carry, Ciaz).
Following the recent years of rapid growth, in 2019 the market struggled for the first three quarter, but the strong demand in Q4 allowed a recovery with final figures up 3.1% at 19.136, the new all-time record.
Suzuki dominates the market having been the first to open a local manufacturing plant and actually controls near 50% of the market, followed by Toyota and Nissan.
Tables with sales figures
In the tables below we report sales for top Brands
