Automobile Industry: Current Trends and Future


Automobile industry is one of the growing sectors in Bangladesh. Compared to the last decade, the growth of the automobile industry has gradually increased due to the socio-economic development and purchasing power of the middle and upper middle class of the country. According to BRTA data, the number of passenger car vehicles increased at a 5.43% CAGR rate from 2011-2020. However, compared to other Asian countries, the passenger car penetration is still very low in Bangladesh. There are only 2.5 car owners per 1000 population. In India, 30 people among 1000 individuals owned a car at the end of 2018. In Myanmar, about 12 people out of 1000 own a car. Higher tax rate on automobiles, inadequate and narrow national highways, high traffic density, high price of fuels, higher interest rate on private vehicle financing are responsible for the lower number of car owners in Bangladesh. Due to the covid-19 pandemic, sales of automobiles declined to its lowest in 7 years. In this article, we will discuss current trends and the future of Bangladesh’s automobile industry.


Foreign investment in the local automobile industry has been stagnant due to the heavy duty structure on imported vehicles. But the new automobile industry development policy 2020, published by the Ministry of Industries, opens a scope for local and foreign investors to set up local assembly plants. The policy provides fiscal incentives for building assembly plants as well as tax reduction for importing semi knocked down (SKD) and completely knocked down (CKD) parts to facilitate the local assembly.

Electric Vehicles are also entering the country. Some Teslas and ‘Porsche Taycan’ have already been imported in Bangladesh. Tax rates of EV is so far, very low in Bangladesh. Gasoline fueled CBU vehicles have import duty on 128% to 827%. Whereas, The Total Tax Incidence (TTI) of electric vehicles is 59% which is almost half of the lowest taxed imported gasoline fueled vehicles. But again, lack of charging facility on roads, technical expertise and road condition of Bangladesh are constraints of EV becoming popular in the market.

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