THE market for used cars was inactive and prices remained largely unchanged in the first week of July, said market sources at Hanthawaddy, the biggest car-trading zone in Yangon.

About four cars were traded daily at the zone in early July, about half the number that were being bought and sold in the third week of June, said Ko Min Aung, a broker at the zone.

“Only a few cars are being traded daily this month, which is a change from last month when the market was not as cool,” he said.

Some dealers at the zone said that for the past two months the market was active because many people were buying used cars like Toyota SE saloons, Nissan Super Saloons and pickup trucks in preparation for monsoon-season travels.

“In the last week of June, sales and prices of pickups were high but now sales have decreased although prices have stayed the same,” said Ko Win San Htwe, a broker at the zone who specialises in pickups and low-priced cars.

“Used cars were in high demand at the start of the rainy season but now there are more transactions involving car exchanges and money than transactions involving simple buying and selling,” said Ko Nge, a broker at Hanthawaddy.
“It happens at the same time every year, during the rainy season,” he said.

Among the cars traded at the market in the first week of July were 1984 to 1986 SE Saloon Toyota Corollas at prices ranging from K15.5 million to K18.5 million; 1986 to 1987 Nissan Super Saloons at K18 million to K23 million; and 1990 Nissan Super Saloons at K23.5 million to K26 million.

In the pickup truck market, 1981 Toyota Publicas sold for K10.5 million to K11 million, and 1986 to 1987 models for K12.5 million to K14.5 million, while 1981 to 1982 Nissan Sunny pickups sold for K8 million to K9.5 million.