New car sales see remarkable growth in 2016

Buying brand new cars in Cambodia, a country dominated by the used car market, is becoming increasingly popular, with sales of new cars growing remarkably last year, according to industry insiders. Ly Bun Hay, general manager of Toyota (Cambodia), said that in general the new car market expanded in 2016, attributing the rise to strong economic growth, a better understanding of the advantages of new cars, and promotions and good services by his company. Seng Voeung, general manager of the Ford Division at RMA (Cambodia), estimated the growth of new car sales in 2016 at his company at 30~40%, driven by the ease of access to finance and the quality of products. According to Voeung, RMA had about a 20% market share for new cars last year, and about 20% of RMA’s sales were based on loans. (Source: Khmer Times)