Ford opens first showroom in Yangon
Ford Motor Co on October 4 officially opened its first authorised dealership in Myanmar in Yangon, joining a number of other carmakers to enter the undersupplied market.
Despite price tags beyond the reach of many in the impoverished nation, the US auto giant said more than 1,500 customers had already visited the showroom since its “soft launch'” two months ago. Myanmar’s population of 60 million and growing demand for cars “excites us”, said Ford regional manager David Westerman.
Foreign investors are eagerly eyeing the resource-rich country following dramatic political and economic reforms since military rule ended in 2011.
Huge import taxes and international sanctions aimed at the previous regime had meant vehicles were too expensive for most people, but recent changes have seen a sharp increase in demand for four wheels.
Many cars on the roads in Myanmar are second-hand imported Japanese vehicles. New imported cars remain expensive, with the US-made Ford Explorer starting from $105,000 (3.25 million baht).
The Thai-made Ford Single Cab Ranger, which is classified for commercial use and therefore not subject to the same level of import taxes, has a price tag of $22,000 and upwards.
Foreign auto makers are also looking to set up manufacturing facilities in the country. Japan’s Nissan Motor recently unveiled plans to launch production in Myanmar with its Malaysian partner Tan Chong Motors, following in the footsteps of Suzuki.
Big competitors in the country are Chinese-made models. For example, the small Chinese-made Chery QQ3 is reportedly Myanmar best-selling car and also a popular taxi model.
Ford Motor Co on October 4 officially opened its first authorised dealership in Myanmar in Yangon, joining a number of other carmakers to enter the undersupplied market. Despite price tags beyond the reach of many in the impoverished nation, the US auto giant said more than 1,500 customers had already visited the showroom since its "soft launch'" two months ago. Myanmar's population of 60 million and growing demand for cars "excites us", said Ford regional manager David Westerman. Foreign investors are eagerly eyeing the resource-rich country following dramatic political and economic reforms since military rule ended in 2011. Huge import...
Ford Motor Co on October 4 officially opened its first authorised dealership in Myanmar in Yangon, joining a number of other carmakers to enter the undersupplied market.
Despite price tags beyond the reach of many in the impoverished nation, the US auto giant said more than 1,500 customers had already visited the showroom since its “soft launch'” two months ago. Myanmar’s population of 60 million and growing demand for cars “excites us”, said Ford regional manager David Westerman.
Foreign investors are eagerly eyeing the resource-rich country following dramatic political and economic reforms since military rule ended in 2011.
Huge import taxes and international sanctions aimed at the previous regime had meant vehicles were too expensive for most people, but recent changes have seen a sharp increase in demand for four wheels.
Many cars on the roads in Myanmar are second-hand imported Japanese vehicles. New imported cars remain expensive, with the US-made Ford Explorer starting from $105,000 (3.25 million baht).
The Thai-made Ford Single Cab Ranger, which is classified for commercial use and therefore not subject to the same level of import taxes, has a price tag of $22,000 and upwards.
Foreign auto makers are also looking to set up manufacturing facilities in the country. Japan’s Nissan Motor recently unveiled plans to launch production in Myanmar with its Malaysian partner Tan Chong Motors, following in the footsteps of Suzuki.
Big competitors in the country are Chinese-made models. For example, the small Chinese-made Chery QQ3 is reportedly Myanmar best-selling car and also a popular taxi model.
