Vehicle registration in Bangladesh has declined to an eight-year low in the first four months of this year, owing to consumer tightening their belts and escalated prices fueled by higher import costs.
Motorcycle sales declined by 30 per cent in Bangladesh in the past two months due to higher inflationary pressures and a draft policy that makes securing a driving licence mandatory before buying two-wheelers.
Motorcycle sales in Bangladesh did not show any growth but rather shrunk in 2022 as the ongoing economic crises, such as rising inflationary pressure, contributed to an overall decrease in local demand, according to industry insiders.