Chevrolet enters Myanmar market

Chevrolet MyanmarGeneral Motors’ Chevrolet is the second US car brand after Ford to make it onto Myanmar roads. The automotive giant announced that it will open a showroom in the fourth quarter of 2013 in Yangon where currently just 18 out of 1,000 people own a vehicle and even less a passenger car, according to World Bank figures.

GM will partner with Alpine Group Singapore and AA Medical Myanmar for the distribution, sale and service of Chevrolet vehicles. The cars will be sourced from manufacturing facilities around the world “to meet the specific requirements of Myanmar consumers,” the company said in press statement released on July 8.

Restrictions in the past allowed just a few thousand cars to cross the border per year in a country of 60 million people. Cars were burdened with heavy taxes and could only be paid with a dollar surrogate currency, the Foreign Exchange Certificate.

With the lifting of import restrictions, a currency reform and the abolishment of the shadow currency, the car market is now on the way to reflecting real demand.

Currently, the Myanmar car market is dominated by Japanese second-hand cars from the 1980s and 1990s. Over 80 per cent of cars being driven in the country are between 10 and 20 years old and don’t have service, let alone warranty. Most used cars sell for a whopping $15,000 to $22,000, according to Irrawaddy Magazine.



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General Motors' Chevrolet is the second US car brand after Ford to make it onto Myanmar roads. The automotive giant announced that it will open a showroom in the fourth quarter of 2013 in Yangon where currently just 18 out of 1,000 people own a vehicle and even less a passenger car, according to World Bank figures. GM will partner with Alpine Group Singapore and AA Medical Myanmar for the distribution, sale and service of Chevrolet vehicles. The cars will be sourced from manufacturing facilities around the world "to meet the specific requirements of Myanmar consumers," the company said in...

Chevrolet MyanmarGeneral Motors’ Chevrolet is the second US car brand after Ford to make it onto Myanmar roads. The automotive giant announced that it will open a showroom in the fourth quarter of 2013 in Yangon where currently just 18 out of 1,000 people own a vehicle and even less a passenger car, according to World Bank figures.

GM will partner with Alpine Group Singapore and AA Medical Myanmar for the distribution, sale and service of Chevrolet vehicles. The cars will be sourced from manufacturing facilities around the world “to meet the specific requirements of Myanmar consumers,” the company said in press statement released on July 8.

Restrictions in the past allowed just a few thousand cars to cross the border per year in a country of 60 million people. Cars were burdened with heavy taxes and could only be paid with a dollar surrogate currency, the Foreign Exchange Certificate.

With the lifting of import restrictions, a currency reform and the abolishment of the shadow currency, the car market is now on the way to reflecting real demand.

Currently, the Myanmar car market is dominated by Japanese second-hand cars from the 1980s and 1990s. Over 80 per cent of cars being driven in the country are between 10 and 20 years old and don’t have service, let alone warranty. Most used cars sell for a whopping $15,000 to $22,000, according to Irrawaddy Magazine.



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

$
Personal Info

Donation Total: $10.00

 

 

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