The Toyota Alphard has become the highest selling used-car in Myanmar say industry experts, with the Japanese made car selling so well in fact, car dealers are struggling to keep up with demand.
Even though dozens of car manufacturers from North America and Europe have opened up dealerships in Myanmar in recent years, Toyota is reaping the rewards of many years spent earning brand loyalty with Myanmar car buyers.
“The favorite vehicles for locals are Toyota. 80 percent of the population likes to buy Toyota, some people might buy other brands but Toyota is the most popular,” U Aung Than Win, Chairman of the Automobile Trading Association, told Myanmar Business Today.
Toyota’s luxury mini-van, the Alphard, is so popular there is a shortage of supply, says Aung Than Win.
“There is no stock left of the Toyota Alphard in the market right now, because of such high demand. Now the price has gone up but even so, demand for other brands is quite cool.”
The price of Alphards has increased by K3 million to K4 million between May and June on the back of increased demand.
An unlicensed Alphard cost approximately K90 million while a licensed secon-hand Alphard costs K7.5 million on average. As is custom in Myanmar vehicles with higher numbered licence plates cost more than those with plates showing a lower value.
According to a recent market study by car dealers, Suzukis are becoming quite popular amongst buyers because of there good fuel efficiency.
Ko Pauk, a local car dealer, said that the modest sized Suzuki Swift sold for between K17 million and K18 million in the first week of June.
Source : Myanmar Business Today