Both imports and sales of reconditioned cars declined due to price increases stemming from the increase in the price of US dollars and the prevailing macroeconomic vulnerability, according to market insiders and market data.
The Bangladesh Reconditioned Vehicles Importers and Dealers Association (BARVIDA) has demanded a supplementary duty (SD) cut on the imports of microbuses, hybrid cars as well as a complete remission of SD on electric cars. At a press briefing in the capital on Tuesday, leaders of the association expressed their frustration about seeing no reflection of their requests in the
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.