Burma Car Sales Projected to Grow 7.8 Percent Annually
6 September 2013
Burma’s auto market is forecast to grow with 7.8 percent annually between 2013 until 2019, according to consultant firm Frost & Sullivan, which said that there could 95,300 vehicles sold per year by 2019. Economic growth, infrastructure development and rising incomes would drive this increase in car sales. Dushyant Sinha, the firm’s Associate Director, Automotive Practice, Asia Pacific, added, “However, factors such as unpredictable regulatory changes, high car prices, under-developed auto service market and inadequate road infrastructure might hinder the potential growth.” Sales of second-hand Japanese cars have jumped in Burma since October 2011, after the government lifted car import restrictions.