Japanese cars predominate Myanmar’s used car market: Report
With the opening up of Myanmar`s economy, the country`s automotive industry is among the ones benefitting by fresh government regulations as rising car ownership is driving rapid developments in the sector`s infrastructure and related markets. In particular, the country`s second-hand car market is experiencing a boom with most locals preferring to buy used Japanese cars.
A latest investigate commissioned by GfK Asia in Myanmar among five hundred car owners in the two most populated areas of Yangon and Mandalay exposed that almost all respondents–98 percent–said the car they now own was bought 2nd arm, and ninety five percent of these cars were Japanese models.
«With the country`s automotive sector still in its ‘infancy` stage at this point and many consumers only beginning to own their very first car, affordability and functionality are understandably the key factors when choosing which car to buy,» said Benedict Hong, commercial director at GfK Asia. «The broad range of Japanese car manufacturers presenting local consumers with their competitive offerings has made them a top choice amongst prospective car owners there.»
When it comes to car batteries, consumers said they would choose to purchase the same brand which came with the car, which is hence skewed towards those made in Japan. Japanese branded car batteries presently account for sixty percent of the total car batteries market in Yangon and Mandalay.
Inbetween the two kinds of car batteries–conventional and maintenance-free, four in five (80%) car owners choose to go for the hassle-free type. While the conventional type requires regular care by refilling with electrolyte and checking for sulphur formation, maintenance-free battery offers more convenience as it is a sealed battery that needs no refilling of electrolyte and has minimal spillage and sulphur formation.
Around four in five (80%) switch their car batteries within two years of possessing the car, with over two in five (44%) make the replacement within just a year.
«Myanmar`s hot climatic conditions and rough road terrain add to the needs of car owners to send their car for maintenance and substituting its spare parts more frequently,» explained Hong. «And the fact that the country`s automotive market is on its growth path, it is most definite that the request for aftermarket car parts would proceed to grow along with this flourishing sector as the country proceeds to develop at a rapid rhythm,» he concluded.
Japanese cars predominate Myanmar’s used car market: Report
Japanese cars predominate Myanmar’s used car market: Report
With the opening up of Myanmar`s economy, the country`s automotive industry is among the ones benefitting by fresh government regulations as rising car ownership is driving rapid developments in the sector`s infrastructure and related markets. In particular, the country`s second-hand car market is experiencing a boom with most locals preferring to buy used Japanese cars.
A latest investigate commissioned by GfK Asia in Myanmar among five hundred car owners in the two most populated areas of Yangon and Mandalay exposed that almost all respondents–98 percent–said the car they now own was bought 2nd mitt, and ninety five percent of these cars were Japanese models.
«With the country`s automotive sector still in its ‘infancy` stage at this point and many consumers only commencing to own their very first car, affordability and functionality are understandably the key factors when choosing which car to buy,» said Benedict Hong, commercial director at GfK Asia. «The broad range of Japanese car manufacturers presenting local consumers with their competitive offerings has made them a top choice amongst prospective car owners there.»
When it comes to car batteries, consumers said they would choose to purchase the same brand which came with the car, which is hence skewed towards those made in Japan. Japanese branded car batteries presently account for sixty percent of the total car batteries market in Yangon and Mandalay.
Inbetween the two kinds of car batteries–conventional and maintenance-free, four in five (80%) car owners choose to go for the hassle-free type. While the conventional type requires regular care by refilling with electrolyte and checking for sulphur formation, maintenance-free battery offers more convenience as it is a sealed battery that needs no refilling of electrolyte and has minimal spillage and sulphur formation.
Around four in five (80%) switch their car batteries within two years of wielding the car, with over two in five (44%) make the replacement within just a year.
«Myanmar`s hot climatic conditions and rough road terrain add to the needs of car owners to send their car for maintenance and substituting its spare parts more frequently,» explained Hong. «And the fact that the country`s automotive market is on its growth path, it is most definite that the request for aftermarket car parts would proceed to grow along with this flourishing sector as the country resumes to develop at a rapid tempo,» he concluded.
Japanese cars predominate Myanmar’s used car market: Report
Japanese cars predominate Myanmar’s used car market: Report
With the opening up of Myanmar`s economy, the country`s automotive industry is among the ones benefitting by fresh government regulations as rising car ownership is driving rapid developments in the sector`s infrastructure and related markets. In particular, the country`s second-hand car market is experiencing a boom with most locals preferring to buy used Japanese cars.
A latest investigate commissioned by GfK Asia in Myanmar among five hundred car owners in the two most populated areas of Yangon and Mandalay exposed that almost all respondents–98 percent–said the car they now own was bought 2nd mitt, and ninety five percent of these cars were Japanese models.
«With the country`s automotive sector still in its ‘infancy` stage at this point and many consumers only beginning to own their very first car, affordability and functionality are understandably the key factors when choosing which car to buy,» said Benedict Hong, commercial director at GfK Asia. «The broad range of Japanese car manufacturers presenting local consumers with their competitive offerings has made them a top choice amongst prospective car owners there.»
When it comes to car batteries, consumers said they would choose to purchase the same brand which came with the car, which is hence skewed towards those made in Japan. Japanese branded car batteries presently account for sixty percent of the total car batteries market in Yangon and Mandalay.
Inbetween the two kinds of car batteries–conventional and maintenance-free, four in five (80%) car owners choose to go for the hassle-free type. While the conventional type requires regular care by refilling with electrolyte and checking for sulphur formation, maintenance-free battery offers more convenience as it is a sealed battery that needs no refilling of electrolyte and has minimal spillage and sulphur formation.
Around four in five (80%) switch their car batteries within two years of possessing the car, with over two in five (44%) make the replacement within just a year.
«Myanmar`s hot climatic conditions and rough road terrain add to the needs of car owners to send their car for maintenance and substituting its spare parts more frequently,» explained Hong. «And the fact that the country`s automotive market is on its growth path, it is most definite that the request for aftermarket car parts would proceed to grow along with this flourishing sector as the country resumes to develop at a rapid rhythm,» he concluded.