One of the sunrise industries, the four wheeled automobile industry is attracting investments with the recent entrance of several global brands. Bangladesh's automobile ecosystem offers huge opportunities for investments with stimulating growth in the demand for passenger and commercial vehicles, favorable economic policies, and attractive fiscal incentives.
Bangladesh is one of the most promising markets for the expansion of four-wheeled automobiles. The number of annual registered automobiles has more than doubled since 2013, amounting to about 26,000 units for passenger vehicles and 37,000 units for commercial ones (excluding auto-rickshaw, human hauler) in 2019.
Although commercial vehicles are dominant, the growing purchasing power of middle-income population has spurred passenger vehicle registration. Due to steadily increasing per capita income as well increasing economic activity, the demand for both passenger and commercial vehicles is expected to grow at a rapid pace.