Myanmar Vehicles Market in 2025 is expanding. Q1 figures rose 25.7%, with BYD, MG, Leap Motor and Neta securing a share of 85%. EV segment lags behind ASEAN trends but still reports notable growth.
Economic Environment
Myanmar’s economy remains in crisis, with GDP now expected to contract by 1% in the fiscal year ending March 2025, a downgrade from previous forecasts of modest growth. This follows an already weak expansion of just 1% over the year to March 2024. Since October, escalating conflict has displaced an estimated half a million people, disrupted key trade routes, and raised logistics costs, further straining an economy that remains around 10% smaller than in 2019 making Myanmar the only East Asian economy yet to recover to pre-pandemic levels.
Consumer prices surged by nearly 29% in the 12 months ending in June 2024, and further depreciation of the kyat, combined with worsening conflict, has driven prices even higher, intensifying food insecurity. At the same time, natural disasters, including Typhoon Yagi and severe monsoon flooding, have affected 2.4 million people, damaged infrastructure, and disrupted production, with over half of agricultural firms reporting significant losses.
Automotive Industry Trend and Outlook
Despite the unfavourable economic outlook, Myanmar’s vehicle market grew 25.7% in Q1 for 2025. Starting at 7% growth in year-on-year volume in January, February reported 15.5% growth, accelerating 50% in March.
Looking at cumulative data up to March 2025 brand-wise, BYD was still market leader, with a 35.9% share (+23.7%). MG followed in 2nd despite losing 2%, while Leap Motor -up 1 spot- ranked 3rd (+77.6%). Neta -down 1 spot- ranked 4th, up 7.5% while Toyota -up 1 spot- closed the Top 5, growing 184.2%.
Looking at specific models, the BYD Atto 3 -up 1 spot- ranked 1st, up 7%, followed by last year’s leader, the MG ZS EV -down 1 spot- losing 29.6% and the Neta V, growing 0.9%.
EV Market Trend and Outlook
Myanmar’s EV sector is rapidly expanding, with sales up 31.7% in Q1 of 2025. Capturing an impressive 91% market share, this surge was fueled by government incentives, including tax breaks and reduced import duties, as well as growing involvement of chinese carmakers, mainly BYD and MG, which secured a major share in the country’s market.
