The prices of some new SKD cars have fallen back compared to the period of their peak price, and demand is normal, according to the car market community. Currently, the price of some new SKD cars, which cost around 200 million kyats, have decreased by around 30 million kyats compared to September, and those of some new SKD cars, which cost around 300 million kyats, by about 50 million kyats.
The prices of some used SKD cars with registration numbers have decreased only by around 5 million to 10 million kyats, according to the car market. After car prices peaked in September last year, the current decline in prices has returned to a reasonable price range, U Min Min Maung, vice president of the Myanmar Automobile Manufacturers and Distributors Association, said. The decline in prices is due to continuous manufacturing of most of the popular SKD car brands such as Suzuki, Kia, Hyundai.
According to the local car market, as the prices of some kinds of SKD car have dropped, the prices of EVs, which used to be over 200 million kyats, have now returned to around 180 to 200 million kyats. In the used car market, some brands are more expensive but some cars cheaper depending on the brands and models of cars. The domestic car market fluctuates based on the number of new SKD car production and the local exchange rate.
