CAR prices are driving their way back up, a number of car dealers in Yangon said last week.

Even relatively lowly priced cars have seen increases of K1-K2 million since the start of May, said several dealers at Yangon’s Hanthawaddy car market.

Demand has rebounded because wealthy families prefer to send their children to school by car when it’s raining, said one dealer, U Maung Win, who travelled to Myitkyina for the last auction.

He added that wealthy families are often willing to spend K20 to K30 million to buy cars specifically to ferry their children to school or university.

Prices of 1986 Nissan Super Saloons hit K20 million last week, while 1988 Toyota Limiteds were K35 million and 1991 model Toyota vans were K45 million.