Car sale in 11 months of 2019 increased by over 25% compared to the year before

Car sale in 11 months of 2019 increased by over 25% compared to the year before
Published 15 January 2020

 

A total of 19,274 brand new cars were sold in Myanmar within 11 months till November 2019, an over 25 percent increase compared to the same period of the year before, and among the ASEAN countries, Myanmar sees the highest growth in car sales, according to the data released by the ASEAN Automotive Federation. 

In the whole ASEAN market, 3,147,822 cars were sold in 2019 with a 2.7 percent decrease compared to the year before. 

The number of car sales in 2019 (till November) was 940,362 in Indonesia, 918,267 in Thailand, 549,445 in Malaysia, 336,226 in the Philippines, 289,128 in Vietnam, 84,171 in Singapore, 19,247 in Myanmar and 10,949 in Brunei. 

Car sales in Indonesia, Thailand, Singapore and Malaysia decreased compared to the year before.   

In Myanmar, 8,225 brand new cars were sold in 2017 and 17,524 in 2018. 

The number of car sales for each month in 2019 was 1,740 in January, 1,396 in February, 1,483 in March, 955 in April, 1,607 in May, 1,678 in June, 1,724 in July, 1,858 in August, 1,822 in September and 2,600 in October. The 10 month's sale of cars in 2019 increased by 25.95 percent compared to the same period of 2018. 

A total of 4,168 cars were sold in 2016, and a new car import policy 2017 leading to a car sale jump with over 8,200 cars in 2017, over 17,000 in 2018 and over 16,800 in 10 months of 2019. Therefore, Myanmar's car sale market is expected to increase year after year. 

Along with increased car sales, car production is also on the rise in the country. Over 12,800 cars were manufactured in 10 months last year. Car assembling has started in six countries of ASEAN including Myanmar. 

In the whole ASEAN region, car production increased by 0.6 percent in 2017 and eight percent in 2018. Meanwhile, Myanmar saw over 32 percent increase in 2017, about 150 percent increase in 2018 and about a 30 percent increase in 10 months of 2019.