Old car’s price doubled after suspension of auto factories

THE auto factories suspended their operations in the country and the car transactions were robust again, according to the dealers.

More than dozens of automobile companies including Suzuki, Nissan, KIA, Hyundai and Ford suspended their productions recently.

“The existing cars in the market see good transactions. For some restrictions in imports, the car prices become higher,” said car broker Ko Hla Win Tun.

“The government is reviewing the car imports and assembly policy,” said Union Minister for Commerce Dr Pwint San.

The productions were suspended for the difficulties regarding dollars and imports, said most of the car brokers.

“The people can sell their Ciaz, Swift, Ertiga, and Carry at Suzuki KL Seven Showroom at the corner of Ywama in Insein Township. If they have not made the bank payment in full, the remaining amount will be paid to the bank and the surplus money will be returned to the owner, and I will buy it. I will buy any Suzuki from any showroom,” Ko Kyi Thar Han of Suzuki KL Seven posted on his Facebook page.

“The Suzuki Ertiga was priced at over K30 million in the past, and now it is over K60 million as the auto plants were shut down. The Hyundai Assent price rose to K50 million from K30 million. The Suzuki price is the highest in the market. The prices rose millions of kyats and it is the very first occasion,” said car broker Ko Win Zaw.

In the local SKD market,vehicles from Japan, Korea and China occupy most of the market shares. “In the local market, the people make transactions by the type of car rather than the alphabet. The sale of below K20 million vehicles with a 2000-cc engine is good,” he added.

Source: GNLM

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