Myanmar automotive after market undergoing impressive growth

18 September 2015
Myanmar automotive after market undergoing impressive growth
Photo: Thawn/Mizzima

Myanmar's automotive after market is undergoing an impressive growth phase following the ease of car import regulations after decades of restrictions, the website reported on 16 September quoting a market study by Solidiance.
Demands for spare parts and after sales services are on the rise as car circulation is dominated by second-hand units, with more than 20 Asian brands ruling the automotive aftermarket. In 2012, all Myanmar citizens were allowed to import cars, which led to rapid increase in car numbers over recent years.
As of May 2014, there were 4,407,741 registered vehicles in the country. However, Myanmar still relies mainly on motorcycles (accounting for 85 percent of total vehicles) for transportation, while cars remain out of reach for the majority of the population due to high cost and import tax. Even those who can afford a car, often choose imported and second-hand vehicles due to lower cost, good quality, and spare parts availability the report said.