Yangon motor show seeks to boost automotive market

The Yangon International Motor Show opened on Wednesday with the hope of boosting sales of new vehicles in the country, where the domestic automotive industry is dominated by the used vehicle market.

‘’Our event showcases latest vehicles from top automotive brands currently available in Myanmar along with latest design concept, technologies, and innovations currently shaping automotive markets across the world,” said Anothai Eamlumnow, president of the Yangon International Motor Show.

The expo will run through Sunday at the Yangon Convention Center (YCC). The main goal of this event is to promote development of Myanmar Automotive Market under the theme “Navigating the Automotive Industry of Tomorrow”.

The show will feature international automotive brands such as BMW, Toyota, Suzuki, Ford, Dongfeng Motor Corporation (DFM) and Scania. It includes interesting activities like a modified street car contest, modified off-road car contest, a intage and luxury exotic car contest and a Nissan GT-R contest.

About 20 international car brands have opened showrooms in Yangon but only six of these companies are represented at the motor show, the first to be held in the country.

We invited other brands but for various reasons, they weren’t able to join the event this year, said U Aung Win, chairman of Automotive Association of Myanmar.

Daw Nway Nway Hlaing, director of Performance Auto International Company – the authorized dealer of Volvo brand in the country, attributed the lack of participation to the poor economy and the failure to implement the Yangon Vehicle Quota Certificate (YVQC) system.

The YVQC is a new vehicle registration system that will allow buyers to bid for a certificate, thereby giving them the right to apply for a license to import and own a vehicle in Yangon for a fixed period.

‘’The main reason is that the economic situation of Myanmar has not been good recently and the government policy is not set yet for YVQC, so we didn’t join this event. We want to join if we have a guarantee of making sales,” said Daw Nway Nway Hlaing.

One of the highlights of this year’s motor show is the unveiling of the all-new 2019 BMW X5 SUV by Prestige Automobiles Co., Ltd, the sole importer of BMW vehicles in Myanmar.

The price of the BMW X5, a 5-seat sports utility vehicle, is K400 million (US$259,596), which customers can buy with a Yangon License.

“We hope we get a lot of sales from the Motor Show. And we have plans to invest more,” said U Aung Aung Sint, sales consultant of Prestige Automobiles.

Visitors may also enjoy special promotions and discounts, allowing them to purchase a new vehicle easily.

DFM is showcasing its SUV AX7, MPV S 370 Hatchback, H30 Cross and S 30 Sedan-type and Mini-trucks, while Suzuki is displaying its Swift, Ciaz models, and other commercial cars assembled in Myanmar with the SKD system.

Customers can buy the cars through the hire-purchase system by linking with AYA bank and will get a Yangon License, said U Nyein Min Aung, a spokesman for Suzuki.

The most popular brand, Toyota, is showcasing its Avanza, Fortuner, Hilux Revo, Rush, and Vios models with the theme “Colors For New You with Toyota”. It also officially launched its new model sedan Camry at the show.

The new model has two types, 2.0 liter and 2.5 liter, and seven colours. The average price of the new Camry is $49,900. Customers who want to buy the cars could make bookings as of Wednesday.

U Aung Win expressed hope the event would be able to promote the new car market despite the hurdles the industry faces.

“The car market is not booming as we hoped. The investors are having trouble because they can’t sell a lot of cars. This event can promote the car market, I think,” he said.

The show is organised by GPI Myanmar Co Ltd and the Automotive Association of Myanmar.

GPI Myanmar is a subsidiary of Grand Prix International Public Co Ltd, the organisr of the annual Bangkok International Motor Show, which is one of the largest motor shows in the region.

“Thailand has been holding this event for 40 years, but this is the first time for Myanmar. We believe that we can hold the event magnificently like in Thailand, as Myanmar will boom within 10 years. Thailand also had to struggle during the first time it held the show,” Anothai said.

Source: Myanmar Times

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