A total of 16,863 brand new cars were sold in Myanmar within 10 months till October 2019, an over 25 percent increase compared to the same period of the year before, according to the data released by the ASEAN Automotive Federation.
Among the ASEAN countries, Myanmar sees the highest car sales.
In the whole ASEAN market, 2,850,799 cars were sold in 2019 with over 2 percent decrease 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, Myanamr saw over 32 percent increase in 2017, about 150 percent increase in 2018 and about 30 percent increase in 10 months of 2019.
