News Summary: Ford heads to Myanmar
Ford Motor Co to enter Myanmar with showroom by August, as market for new cars emerges
MOTORING TO MYANMAR: Ford Motor Co. announced its entry into Myanmar, saying it plans to open the nation's first sales and service showroom for new vehicles by August.
ROUGH ROAD: Myanmar's vehicle market has been stunted by decades of international sanctions and strict import controls put in place by the military junta that ruled for nearly 50 years, handing out import licenses to a few favored tycoons. Today most vehicles on the road are used Japanese cars, with an estimated 80 percent of vehicles over 10 years old.
NAVIGATING: Ford must not only figure out what customers want, but also train people to service their vehicles and work with the government as it establishes regulations for new cars. Ford has hired around 50 people for its Yangon operations and plans to expand across the country.
