Car Prices On The Rise In Cambodia, A Market Insight By MG Cambodia

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Car Prices On The Rise In Cambodia, A Market Insight By MG Cambodia

With a new special tax at 60 percent, instead of the previous 50 percent, car prices are about to rise in the Kingdom. Campaigns to inform customers have already been engaged by some of the biggest brands in the country such as Mazda, and Hyundai. This campaign of information has been spread to the general population informing them that very soon the current prices will rise by 3000 to 5000$ each. To be more precise, one of the most successful SUV sold in Cambodia, the Mazda Cx-5 will pass from 52,900$ to 55,900$. Same goes for the best selling segment, pickups.

While cars in Cambodia are already expensive compared to the original price in Europe, Japanese or American market, it will get worse this year. In addition to the new special tax, the customs have also decided to increase their clearance fees up to 50 percent. Experienced as an injustice by authorized local dealers, this new tax scheme will also deeply affect the grey market.

Lexus models for example could be now taxed up to 200 percent! This of course will happen if the customs decide to enforce the law to all the importers. Last year indeed, over 40,000 vehicles over 45,000 total had not been declared correctly and paid a lower amount of tax.

Some constructors, offering better prices or vehicles with lower motorisation could take profit of this situation. For instance on the SUV segment, Toyota with its small SUV the Advanza, the Chevrolet Trax and the MG GS to name a few will offer attractive prices despite the new tax scheme, hoping to gain more market shares in the very competitive local market.

Committed to deliver the best customer service in Cambodia, MG is also one of the very few brands sharing expert opinions and guidance with Cambodian consumers in order to help them choose the best options and know the updates of an ever changing automobile market.

MG is located at #207, St 110, Russian Boulevard, Sangkat Teok Laak 1, Khan Toul Kork, Phnom Penh, Cambodia.

To get more insights on the Cambodia automobile market or on the MG GS, please email [email protected]