Tag Archive | "Myanmar car prices"

Myanmar car importing and CIF value

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Myanmar Car Market, Car Import to Myanmar Linked to More Car Racing

Posted on 17 June 2012 by Myanmar Guardian

Myanmar car marketYangon, Myanmar, Myanmar car market:

if you love cars and read the car journal in Myanmar, you are bound to have witness car racing events in Yangon. Although illegal, these races on the main streets of Yangon are still taking place. Even though this is a common event in Yangon for a few years now, more information about this is surfacing. This is attributed in part to the growing car importing trend in Myanmar and the overgrowing Myanmar car market.

Some taxi drivers and eye witnesses told the government newspaper that there are car races on streets when heavy traffic is subsided, especially at night time.  Due to the high speed, there have been some car accidents, reported the government newspaper in Yangon.

“They are not doing these races spontaneously; I think they had planned for the time and place.  Not only at midnight, but also in the late evening; sometimes they are racing at about 9 or 10 PM. Most of them are sport cars usually driven very fast.  Sometimes, even taxis are included. Taxis usually wait for the passenger at the highway bus terminal which is located at the suburb of Yangon, at the early morning at about 4 AM.  When they have passengers, they drive at high speed so that they can queue again at the highway bus terminal before sun rise.” One witness told the government Myanmar newspaper, The Mirror.

In the report from The Mirror, one taxi driver told that, “It is very dangerous for the citizens who are using main roads, especially individuals that are walking.  I think they will not take any responsibility when accident happens. Surely they will drive away. Government should give special attention to these matters and they should take action upon those night time high speed drivers.”

Government newspaper also reported that those illegal racers totally neglect the traffic lights.  So, drivers that have the right of way usually get into trouble and encountered some accidents even though they had the right way. “Those cars are speeding very fast, so fast that I could not even read its license plates with my own eyes.  I saw some on the Ka Ba Aye Pagoda road, near Sedona Hotel.  It could be a threat to the foreigners who come to visit our country”, told by one of the resident who lives near Sedona Hotel.

As car importing becomes more common in Myanmar, car prices on the Myanmar car market are decreasing. Young people are more and more interested in sports cars. Having witness this, Myanmar government raised up the import tax for sports cars recently thereby making the Myanmar car CIF price higher. Although this is a start, the Myanmar car market is seen rapid changes so more policies are needed in order to keep racing in check.

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Myanmar car importers

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Myanmar Car Price: Special CIF Value for Privileged Car Importers?

Posted on 18 February 2012 by Rob

Myanmar car priceMyanmar car prices: Yangon, there’s some criticism about the CIF (Cost + Insurance + Freight) value specified by OSS (One Stop Service) a government branch, on used car that are imported into Myanmar.  Some business specialists point out that current CIF values are giving more profits only to the privileged car importers.

“The cost of Toyota Alphard 2002 models is between 10,000 to 20,000 US dollars, but CIF value for it is only 5,000 US dollars.  It has been planned to import 70,000 Honda Alphard cars and currently there are about 1,000 here with under specified CIF value.  With 1,000  Honda Alphard cars imported, government is loosing about 10 billion with the tax.”

“Many things are going wrong with CIF value.” told by the car business specialist. “Let’s say, even though they have specified the CIF value of the Honda Alphard cars while some other cars like Estima, which only cost about 5,000 US dollar, its CIF value is 15,000 US dollar.”  He pointed out.  “To say the truth, we assumed they are giving opportunities to some privileged car importers.”

“We don’t know how they are setting up the value with used car imports.  OSS should base on Japan auction market or one trusted international car selling website.” suggested by one of the car import business owners.  It’s has been about 6 months since the ruling government approved to import used cars.  But the tax and CIF values have changed a couple of times and the established car importers have already experienced some losses.

A reporter from one of the leading news portals reported that Myanmar car prices are going on a downward trend in the local car market these days in Myanmar. Compared to January Myanmar car prices, there are about 5,000,000 Kyats (about 6100 US Dollars) difference in high model cars.  “In January, Toyota Mark II was priced about 35,000,000 Kyats (about 42,000 US dollars) and now it is about 30,000,000 Kyats (about 36,000 US dollars). Toyota Harrier which used to be about 50,000,000 Kyats (about 61,000 US dollars) is now worth about 42,000,000 Kyats (about 51,200 US dollars). Myanmar car prices are sure set to decrease once more importers are increasing their stock and more people can afford to purchase a car.

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