The Myanmar Automobile Association announced that last week that the price of motor vehicles in Yangon has increased significantly.
“Custom duty fees have increased from 400,000 kyat (US $466) to 500,000 kyat ($583) this week alone,” said Min Oo, a spokesperson from the Myanmar Automobile Association. “Meanwhile, at auctions, a second-hand car which would have cost 500,000 kyat has doubled to 1 million kyat.”

Similarly, a regular car permit has increased from 8.1 million kyat ($9,446) to 8.8 million kyat ($10,262) plus tax.

A taxi permits have also increased to 1 million kyat ($1,166) each.

Car importers said that 150 cars are being sold every month in Yangon showrooms, while 500 second-hand cars are sold on average per month at the Hantharwaddy Car Market.

Post-2007 models with small engines are in highest demand, they said.