Sunday, August 20, 2017

Online world opens up options for users

Cars sit at Sakura car showroom in Yangon recently. Boothee/ The Myanmar TimesCars sit at Sakura car showroom in Yangon recently. Boothee/ The Myanmar Times

Myanmar's online world is suddenly bristling with activity in the automotive and real estate realms, industry sources said last week.

U Aung Myin Moe, a car dealer in Yangon, said prospective buyers across the country could see advertisements through the internet – something that would have been impossible just six months ago.

“Through online advertising car trading information has reached far and wide to customers and is not limited to Yangon,” he said.

“Through the contacts on my car advertisements on myanmarcarsdb website I’ve done business with people living in other cities.

“Before these websites were developed, we had to drive our cars to markets, such as Hantharwaddy in Yangon or use a network of brokers if we wanted to sell them,” he said.

This has introduced greater transparency to the used car market, with savvy buyers using the contacts and information available through car trading websites to make decisions, rather than relying on brokers, he added.

He said even some brokers are also browsing the websites to find stock for buyers offline.

U Wai Phyo Kyaw, the chief financial officer of website, said: “There are more and more dealers who are using our website – some add up to 40 new cars a day.

“Every day we have about 4000 visitors to our site and in six months we estimate that about 1000 cars have been sold through it,” U Wai Phyo Kyaw said.

“But we are not making any profit from the website yet and are thinking of ways to monetise it,” he said.

The website will also include a directory for car spare parts, service centres and workshops, he said.

“We will also try to provide news on car import plans as well as other information such as car reviews, forums and reports,” he added.

U Tun Win said he recently bought a car through myanmarcarsdb.