Trading of high-priced EVs, which cost around three billion kyats, has slowed down but EVs priced between one billion kyats and 1.5 billion kyats are being traded normally in the market, according to local car dealers.
Prices of EVs, which were sold at a higher price than the market price, have returned to normal since early this year. Although it is believed that car sales in the market may have slowed down due to the strong earthquake and various other reasons, trading is normal, said U Min Min Maung, vice president of the Myanmar Automobile Manufacturers and Distributors Association.
As some SKD car manufacturers have stopped production during the Thingyan period, there is a slight increase in prices of some car models but if production of new cars are resumed, prices may be normal.
Popular car models in the country include Suzuki, Jetour, Hyundai, Toyota and etc. and cars worth over one billion kyats are being traded. In the used-car market, cars worth around one billion kyats to 40 billion kyats are also being traded. The domestic car market fluctuates depending on the number of new SKD cars and the local exchange rate.
