Market Share of Bangladesh Used Car Industry
The used car market in Bangladesh is currently dominated by several key players, including Bhalogiri.com, Car Haat, HSB Cars, Navana Group, Continental Motors Limited, and others. The market is poised for significant growth in the coming years, driven by the increasing importation of cars into the country. The rapid expansion of used car dealerships across the nation is expected to further propel market growth during the forecast period.
For instance, in May 2023, the Bangladesh Reconditioned Vehicles Importers and Dealers Association (BARVIDA) reported a 3 percent increase in car imports compared to the previous year, indicating a growing demand for used cars in the country.
In April 2023, the Bangladesh Government introduced new duties and taxes on used car imports. These measures include a 15% VAT and import tax ranging from 0% to 40% on used cars, which may impact the pricing and availability of used cars in the market.
Bangladesh Used Car Market Leaders
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Bhalogari.com
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Car Haat
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HSB Cars
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Navana Group
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Continental Motors Limited
*Disclaimer: Major Players sorted in no particular order
