General Motors (GM) CEO ASEAN Martin Apfel on the automotive industry in South Asia
Ford, GM and other automakers are racing to open in Myanmar.
Servicing staff member of a car during the opening ceremony of the Nissan Car Showroom Service Center in Yangon July 31, 2013.
Since opening to the outside world in 2011 Myanmar seems to be the latest battleground for the giants of the industry in all sectors, now it's automakers are turning.
While used cars currently account for 99 percent of annual domestic sales of the country, major car manufacturers are staking out territory with an eye to future market share.
Nissan Motor Co Ltd TYO 7201 is the latest to launch a showroom and service department in Myanmar Yangon mall The company began selling Wednesday, according to the Myanmar Times.
Nissan vehicles will be distributed in Myanmar by a Malaysian listed company, Tan Chong Motor Holdings, which will invest $ 2 5 million over three years to begin operations, and plans to sell 300 vehicles a year.
Although Myanmar's auto market is still mainly filled with used cars, experts believe that the future is bright for carmakers in one of the last frontiers of Southeast Asia.
Overall the market is on a growth path, but the coming years will be crucial to continue the momentum, said Dushyant Sinha, principal consultant of the practice of automotive in Asia Pacific within the Singaporean firm Frost and Sullivan.
Auto buyers of Myanmar are very sensitive to price, and limited awareness and consumer exposure, said Sinha, adding that a number of regulatory issues must be taken into account.
Other manufacturers have already entered Myanmar Ford Motor Company F NYSE opened a showroom, and Suzuki Motor Corporation TYO 7269 restarted operations reassemble trucks in Myanmar in May, according to the Myanmar Times.
The new auto industry begins to said U Khin Tun, CEO of Capital Automotive, Myanmar Ford dealer.
Domestic vehicle production would increase with an improved regulatory environment, Tun added duties preferable used cars new cars, but it could be adjusted to promote sales of new cars.
We need a little time for the industry to go smoothly, said Tun.
Mercedes, a division of German automaker Daimler AG, in partnership with the Automobile transport and Myanmar cycle, and aims to complete its showroom in early 2014, but has already begun to promote his environment and vehicle range in the country upper tier, as the Myanmar Times.
General Motors NYSE GM Southeast Asia Operations recently enlisted Alpine Pacific, a division of the Alpine Group, for the distribution, sales and service in Myanmar, the first Chevrolet showroom to open in the third quarter, according to a Nation Thai news outlet.
One of the most watched sectors in Myanmar is the automotive industry, said Albert Pang, general manager of Pacific Alpine About 90 percent of the population of the vehicle in Myanmar is more than five years the policy change to allow the import new cars see a quick response from the global and regional players.
South Korea's Hyundai Motor Co 005380 KRX plans to open an exhibition and service center in Yangon in September this year Fortune International Limited, a local company, will be the sales representative of Hyundai, according Eleven Myanmar A output new Myanmar.
Ford GM and other automakers are racing to open in Myanmar, Ford, other manufacturers race.