doing business in myanmar – what you need to know as a singaporean
The price of luxury cars has gradually declined over the past two months, as market demand and the value of the US dollar continue to fall.
Car salespeople believe that the government’s policy of granting import permits to civil service personnel might also be to blame. The unpopular government policy
exempts certain officials from paying import taxes on models bought into the country.
“It is difficult to say exactly how much prices will fall, but the higher end of the market seems to be suffering more,” said U Aung Than Win, chairperson of the Motor Vehicle Trading Association (Yangon).
Currently, as more luxury and higher-priced models enter the market (including cars priced K40 million and above) prices will continue to decline. It might be a good time to pick up a bargain, he said. – Translated
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Source : Myanmar Times
