Market Share of Myanmar Used Car Industry
Myanmar's Used Car Market is dominated by several key players such as Toyota Aye and Sons, CarsDB, Japan Auto Showroom, SBT CO., LTD, Capital Diamond Star Group Limited, and others. The rise in demand for used cars in the country, owing to an increase in the price of new cars, is likely to witness major growth for the market during the forecast period. For instance,
In December 2022, Hyundai introduced the Hyundai Smart Deal, an innovative financing solution that enables customers to own a Hyundai car with significantly reduced costs of up to 50%. The program offers worry-free maintenance benefits and guarantees a remarkable 70% resale value when trading in the vehicle for a new Hyundai car after completing the last installment.
In December 2022, The Ministry of Commerce (MoC) announced the latest import regulations for the import of vehicles by car showrooms. In Myanmar, a car showroom refers to a new car dealership, which is normally a branded dealership that must also include workshops able to provide after-sale services.
Myanmar Used Car Market Leaders
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Toyota Aye and Sons
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CarsDB
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Japan Auto Showroom
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SBT CO., LTD
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Capital Diamond Star Group Limited
*Disclaimer: Major Players sorted in no particular order
