Why-Bangladesh? Why-Now?

Bangladesh's economy is projected to grow 6.9 per cent in fiscal year 2022-23 thanks to strong export growth and a rebound in domestic demand, the World Bank (WB) said in its Global Economic Prospects released. Dhaka and Chittagong are the principal financial centers of the country, being home to the Dhaka Stock Exchange and the Chittagong Stock Exchange. The financial sector of Bangladesh is the second largest in the subcontinent. Bangladesh is one of the world's fastest growing economy. The automotive industry in Bangladesh is the third largest in South Asia. Bangladesh has a few large car plants which assemble passenger cars from Mitsubishi and Proton, as well as commercial vehicles from Hino and Tata.

In Figure

The automobile industry in Bangladesh, as a whole, is growing. We have an estimated annual demand of 30,000 units for the passenger vehicles among which brand new vehicles are contributing 5,000 units. 

The demand for brand new cars is increasing as manufacturers are now offering new generation, highly efficient mobility solutions across different customer segments. 

Across the globe, the private vehicle market is performing well. In the backdrop of emerging economies and the overall increasing purchasing power of people in developing nations, the market is projected to grow at 4.4% per year through to 2022. This expected growth can primarily be attributed to a stronger and more robust global economy and the increasing availability of budget-friendly models.