Poorly developed road infrastructure has proven no obstacle for Cambodia’s upwardly mobile population, who are buying cars and motorcycles in record numbers, new data shows.
The number of registered vehicles in Cambodia grew by 14 per cent last year, with more than 3.2 million vehicles now registered, including 2.7 million motorbikes, according to figures released yesterday by the Ministry of Public Works and Transport.
A local car distributor attributed its annual growth in sales to overall economic growth in Cambodia, which has caused people not only to buy more used vehicles, but new vehicles as well.
“The growing middle class has adopted the new lifestyle where they travel more than they did before and they purchase new vehicles to enjoy travel with their family, friends, and colleagues,” said Ngorn Saing, CEO at RMA Cambodia, which sells the Ford, Jaguar, and Land Rover car brands.
“In addition, Cambodia’s corporate sector and state institutions are moving toward new vehicles considerably.”
According to Saing, RMA’s car sales of its three brands combined increased 30 per cent year-on-year in 2015. The company expects its new car sales to increase even more this year despite competition from grey market dealers.
“It’s quite tough for us as we are an authorised dealer who fully plays by the rules of law, while the grey market benefits from loopholes in our tax system and customers’ limited knowledge on vehicles,” Saing said.