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Myanmar and Cambodia Registered Positive Total Industry Volumes (TIVs) While Laos Fell Behind
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This growth insight is part of an ongoing quarterly tracker that monitors the trends and the developments in the automotive markets in Asia-Pacific's emerging markets of Cambodia, Laos, and Myanmar. It uses multi-level secondary as well as primary sources for data collation. Sources include country-level official associations / federations, government authorities, country subject experts, and third-party sources (international / regional organizations). The trends and developments in these countries are of particular interest to stakeholders in the automotive market as they are the developing markets in the region. During Q4 2018, the Myanmar and Cambodia automotive markets registered a positive total industry volume (TIV) while Laos fell behind. Myanmar’s aggressive promotion of the tourism sector by relaxing tourist visa requirements for several countries has contributed to the increased demand for commercial vehicles in the country. Cambodia has developed a plan to curb the import of used vehicles which has led to an improvement in the demand for new vehicles in the country. However, in Laos, slow economic growth, especially in the agriculture sector, caused by floods and high inflation due to rising fuel costs, has emerged as the key factor leading to a decrease in new vehicles sales. This insight offers an analysis of the trends in the various segments and sub-segments in these countries, with a focus on Q4 2018.
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