Focus2Move
Myanmar Vehicles Market in two thousand fifteen leaped up sustained by a strong economic growth.
Myanmar Vehicles Market in two thousand fifteen leaped up sustained by a strong economic growth. The market is mainly driven by request for commercial vehicles and Toyota plays the rule of market leader.
Economic Outlook
Myanmar’s economy is expected to demonstrate strong growth for two thousand fifteen and will proceed to benefit from the implementation of reforms. On six January, the Central Bank launched a fresh clearing and settlement system, which aims to improve efficiency in monetary transactions.
The country’s underdeveloped financial sector is little by little building the infrastructure required for the rapidly growing economy and represents a massive step forward for Myanmar’s largely cash-based economy. The fresh system also paves the way for the development of functioning and efficient capital markets.
Looking forward, Myanmar’s economic prospects remain positive due to the economic reforms that are likely to occur under the administration of the fresh government. FocusEconomics panelists expect the economy to grow 8.0% in 2016, which is up 0.1 percentage points from last month’s estimate. For 2017, the panel projects growth of 8.1%.
Market Outlook
According to data released by the Road Transport Administration Bureau, during the two thousand fifteen the fresh vehicles market in the country commenced its development taking more space in the local consumer’s spending still focused on imported pre-owned vehicles.
While the utterly low pro capita income is limiting the car passengers request, the rapid development of the economy with GDP speed in the range of 8-10% is sustaining the growth of commercial vehicles segment.
In the two thousand fifteen total fresh vehicles sales had been 6.362, up 70.6% from the previous year with car passenger’s segment at Two.806 (+42.2%) and commercial vehicles at Three.556 (+102.4%).
The best seller was Toyota, very first time over the 1.000 units in a year, followed by Suzuki with five hundred sixty nine vehicles and Ford with 494.
Research, Consulting, Data & Forecast Store
F2M covers intensively this market with several products developed to help any investigation required.
Market Researches in PDF are instantly available for download with examine on the market since two thousand five and with forecast up to the 2020.
Auto Data in EXCEL are instantaneously downloadable with annual sales volume, split by month, for all brands and all models distributed in the market. This year data are released year to date, but you will receive a monthly update until the year-end.