Japan's carmaker holds over half of Myanmar market
Japanese auto and motorcycle maker Suzuki Motor Corp. is sharply boosting its car sales in Myanmar, seizing a 52 percent market share in the first half of this year, according to the Kyodo News.
Suzuki car - Illustrative image (Source: Internet)
Hanoi (VNA) - Japaneseauto and motorcycle maker Suzuki Motor Corp. is sharply boosting its car salesin Myanmar, seizing a 52 percent market share in the first half of this year, accordingto the Kyodo News.
Suzuki posted a 3.3-fold increase in sales in the six-month period over a yearbefore to about 3,600 units, thanks to locally produced vehicles with moreaffordable prices than imported vehicles, said Keiichi Asano, President ofSuzuki (Myanmar) Motor Co.
The Japanese company started localproduction in 2013. In January this year, it started operations at its secondplant in the Thilawa Special Economic Zone on the outskirts of Yangon to increaselocal output.
Suzuki has registered robust sales ofthe Ertiga multipurpose vehicle and Ciaz sedan with prices ranging from 23.17million kyat (15,000 USD), over 20 percent lower than those of imported similarvehicles.
Suzuki's two plants are operating atfull capacity and the automaker is now on the verge of deciding to furtherexpand local production capacity.
In the Myanmar auto market, Toyota Motor Corp., Japan's largest carmaker bysales volume, holds a market share of about 20 percent, according to aspokesman at Toyota Motor Asia Pacific Pte. Ltd., its regional headquarters inSingapore.
According to ASEAN Automotive Federation, new car sales inMyanmar in the first half of this year more than doubled over a year before toabout 6,800 units. The annual total is likely to top 10,000 units for the firsttime.-VNA
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Suzuki car - Illustrative image (Source: Internet) 
