Mongolia used car market

Mongolia used car market

Mongolia used car market

 

Prior to 1990s, Mongolia market was dominated by Russian made automobiles, but now, it is not common to see a vehicle from Russia on Mongolia roads. Today, Japanese and Korean manufactured vehicles are popular in the country. Currently, Japanese vehicles dominate the market. Motor vehicles in the country range from reasonable small-sedans to big off-road jeeps. Mongolians prefer to purchase Japanese vehicles because they are reliable, efficient and easily affordable.

The country’s market is growing along with the growing demands for vehicles. Out of all Japanese brands, Toyota is the popular one. Generally, 4WDs are preferred in this mountainous country. Along with these, small hatchbacks are also popular on the country’s roads. According to the statistics of Japan’s Customs Statistics Office, Mongolia has imported 32,910 used passenger vehicles from Japan in 2013, becoming one of the top 10 Japanese used vehicles importers in the world. Automobile sector of Mongolia is very open and is growing very rapidly, thus provides vast opportunities to used car dealers to enter the market.

 

Importation of right hand drive vehicles is allowed in the country. There is no age restriction on used vehicles imported in Mongolia; hence importer can import any vehicle in the country. There are necessary duties also that are to be paid on the vehicle in order to drive the vehicle on the roads of Mongolia.

 

 

Mongolia is a growing market and hold vast opportunities. Along with used cars, used buses, used motorbikes, used parts and machinery are imported to Mongolia from Japan. Japanese cars are good value as even being used, they comes in good condition. Japan and Mongolia have entered into a free trade agreement that would be good for both the economies. The automobile sector will also get benefitted from the agreement. Mongolia mainly import used vehicles from Japan. Around 45% of Japan export to Mongolia is accounted by used cars. And there are assumptions that in years to come it will increase more.

 

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