Bangladesh Automotive Industry: A Roadmap For The Future
From high-end sport utility vehicles (SUVs) to compact sedans, to satisfy the nation's needs for cars, Bangladesh has always been dependent on imported vehicles. The capital city Dhaka, one of the world's most populous cities, has high potential to become a smart-city. That means there is a rising demand for motorized vehicles.
With the increase in government procurement and growing middle-class society, the automotive parts market is growing at a growth rate of between 10 and 12 percent in the year 2019. The rising purchasing power of individuals allows them to pay for cars and avoid public transportation. Additionally, the rise of ride-sharing companies like Uber, Pathao and others contribute to growing demand. This is a call for action to build an industry of manufacturing automobiles within the country which will reduce import-reliance and strengthen the local industry by generating employment for many. Whether you demand a useful source on Best Japanese Reconditioned Car Importer & Showroom in Bangladesh, check out here.
Projection of Automotive Market in Bangladesh
Even ten years ago the market for automobiles in Bangladesh was below BDT 500 crore (USD 58 million), however, in 2019 , the market was estimated to be in the region of BDT 1400 crore (USD 164 million). Import-dependent markets house various vehicle brands from many countries which include Japan, South Korea and China, Germany, France (Malaysia) as well as the UK as well as the USA. Japan as well as India are among the biggest importers of vehicles. In Bangladesh there has been an incredibly rise in registered motor vehicles over the last few years. This means that there is a growing demand for automobiles.
The majority of the automotive components that comprise the alternator, the engine, brake pads, radiators and brake pads, tires suspension, body parts, are imported from Thailand, China, India and India. Dubai and Taiwan, as well as Indonesia Malaysia, and many other countries. are imports from Thailand, China, Taiwan, Indonesia, Dubai and India. There are over 200 auto parts dealers across the country, and just a few local companies, Pragoti Industries Ltd being the largest. Locally produced parts fail to guarantee high quality when compared to imported ones. Therefore, the traders must rely on imported components.
Japanese Brands dominate the car market
Although reconditioned vehicles dominate the car market, 95 percent of vehicles imported from Japan are imported. The market for reconditioned cars in Bangladesh is usually regarded as brand new in the local market which covers 50 percent of the total market for cars. The 5 percent that are brand-new cars make up most of the other 45 percent. This is an indication of the steady growth of the second-hand market.
While multiple car assemblers and distributors have emerged in the nation, Toyota and Hino vehicles are distributed by Navana Ltd. In addition to Rangs Ltd, Uttara Motors Ltd, and Nitol-Niloy Group, they remain the exclusive distributors of Mitsubishi Motors and Suzuki vehicles as well as Suzuki vehicles.
Within the class of private passenger cars among the private passenger cars, the Japanese Toyota brand Toyota has been ruling market share since the 1990s. Other popular brands include Honda, Nissan, Suzuki, BMW, and so on. Based on the advertisements for cars information from Bikroy.com in the year 2018 Toyota has 80percent of the market popularity.
Different Toyota models, like the Corolla, Noah and Allion are among the most popular in Bangladesh. Due to its affordability, the Toyota Corolla is undoubtedly most well-known. Toyota Noah is the most preferred choice for a family car and Mitsubishi Pajero is the top-selling SUV.
GARI-IMPORT.com.bd
Polwel Carnation Shopping Center, (Level 1 Parking Area)
Sector 8, Uttara, Dhaka.
(Near Abdullahpur Bus Stand, Dhaka Mymenshing Main Road)
Tel :+8801811030303 (WhatsApp)