The Cambodia Automotive Industry Federation (CAIF) predicts a 15% increase in the car sales industry in 2024 compared to 2023. This is due to increased demand from users, government policies supporting automotive manufacturing, and incentives for electric vehicle import. The industry offers a five-year warranty and lower prices compared to second-hand cars. The Royal Government of Cambodia (RGC) has identified the automotive sector as a priority sector for national economic growth, allowing Cambodia to assemble cars locally and produce spare parts and ties. CAIF is optimistic about the sales rate in 2024, expecting a 15% increase compared to 2023. The industry has evolved from a car-importing country to a nation capable of assembling domestic cars. CAIF will continue to cooperate with relevant ministries and institutions to promote automotive investment, ensure equal competition, and promote electric vehicle import incentives. (ICE BANGKOK)

Fonte notizia: Khmer Times