Automobile prices in Yangon have climbed by more than 100 percent

Those who work in the Yangon vehicle trade say that prices have virtually doubled since they first entered the market, but business is still brisk. This has happened because wealthy people in Yangon are involved in buying and selling cars in the city.

Car prices in Yangon’s purchasing and selling market have risen, although only by a fraction of a percentage point, since the Military Council ceased giving licences to import automobiles from abroad in September of the previous year. Since the Military Council announced the decision to stop granting permits, there has been a rise in demand for US dollars as a foreign currency within the country. There was no rise in prices, though.

Tay Yak, who does business on both sides of the car buying and selling market, recently shared his thoughts on the condition of the Yangon automobile market: I don’t know the prices, but the goldsmith is clearly playing a game right now because some of the people who come to buy are from outside. They send people to buy, and the buyers drive everything they buy straight into the farm.

Both people who buy and sell cars are worried about recent price increases and want the market to be more stable.

This is not a profit. If it becomes real, everything will go. The rising prices are not a good sign. How can it be good? There are no positive signs at all. We don’t like it either; this is a very bad situation. We just like the stability of the market. regular sale. I like to buy it regularly.

However, the policy has a direct effect on the price of cars; thus, if it doesn’t change, neither will the prices of cars.

In a recent interview, Tay Yak, a businessman who has just started a dealership, was cited as saying, “Money’s declining value is the most important point to emphasize. No appreciation in the vehicle’s value is happening. Additionally, the cost of automobiles mirrors that of a precious metal. The value is different from the USD equivalent. Policy is all that interests him. I mean, you do realize that, right? This person will be finished off as soon as the policy is revised. In the future, the dollar will appreciate further. The gold market will be closed until the policy is revised.

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