Phnom Penh Auto Show: Steering Cambodia’s Automotive Ecosystem into a New Era

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2023 Business
Phnom Penh Auto Show Phnom Penh Auto Show

Harrison White

Phnom Penh is set to host the inaugural Phnom Penh Auto Show (PPAS), a high-octane event that is shaping up to be the most significant automotive showcase in Cambodia. Slated for late March 2024, at the Diamond Island Convention and Exhibition Center and will be preparing to welcome over 20,000 visitors. Organized by CAS Event Management, the event is not just a display of the latest vehicle designs and technologies but a pivotal moment for Cambodia’s automotive sector.

Reflecting the Royal Government of Cambodia’s commitment to the environment and sustainable development, the PPAS is more than an auto exhibition. It is poised to host informative workshops and presentations in partnership with local safety organizations. These sessions aim to enhance public awareness about environmental impacts and promote knowledge about reducing fuel consumption and emissions.

Mr. Jason Broome, CEO of CAS Event Management Co., and Mr. Mengleang Chhoy, Business Development Director shared their perspectives with Cambodia Investment Review, shedding light on the anticipated impact of the show on Cambodia’s automotive landscape.

Strong Growth in Automobile Sales and Financing Options

“The Cambodian automotive market is accelerating,” said Mr. Chhoy. He highlighted the market’s $2 billion valuation and its impressive 11% compound annual growth rate from 2018 to 2022. According to Chhoy, this growth can be attributed to several factors: Cambodia’s robust economic growth, the rising middle class, improvements in road infrastructure, changing societal norms favoring car ownership, and most importantly – the increased accessibility to diverse financing options.

Financial institutions have played a crucial role, offering innovative purchasing and leasing options for both new and pre-owned cars, along with expanded insurance options. The PPAS is set to capitalize on this growth, providing a platform for exhibitors and sponsors to connect with a rapidly expanding market.

Mr. Broome, with his extensive experience in managing automotive brands   globally and locally, shared his vision for the PPAS. “This show is set to align with international auto shows like those in Singapore and Bangkok,” he stated.

Mr. Jason Broome, CEO of CAS Event Management.

He emphasized that the PPAS aims to offer a holistic experience for car enthusiasts and potential buyers, showcasing a wide range of vehicles in a pressure-free environment and highlighting the latest trends, including the rise of electric vehicles (EVs).

However, Broome noted that the PPAS aims to go beyond just showcasing cars. The event will feature immersive experiences such as virtual car racing, diverse food and beverage options, music, entertainment, and a high-end cocktail lounge by a premium spirits sponsor.

Partnerships with Top Automobile Financing and Insurance Providers

Addressing collaborations, Mr. Chhoy revealed that the PPAS will feature select partnerships with top automobile financing and insurance providers in Cambodia. These collaborations aim to educate attendees on optimal ways to finance new cars and secure comprehensive insurance coverage. Chhoy underscored the importance of preparing for potential regulatory changes, such as compulsory third-party insurance, which could significantly impact the industry.

 

Mr. Mengleang Chhoy, Business Development Director.

“We are on the cusp of a new era in the Cambodian automotive industry,” Broome remarked. The PPAS is envisaged as a convergence point for opportunity, innovation, and growth in the sector. Broome also hinted at the possibility of hosting more specialized automotive events, potentially on a quarterly basis, depending on market demand.

The Phnom Penh Auto Show is poised to be more than just an exhibition. It’s a catalyst for the growth of Cambodia’s automotive ecosystem, encompassing vehicle showcases, financing solutions, insurance education, and a glimpse into the future of mobility. As Cambodia’s automotive market shifts gears, the PPAS is set to drive this transformation, marking a new chapter in the country’s automotive history.