The period stretching from April to June saw a complete halt in the trading of automobiles in Dhaka and Chittagong respectively. Businessmen have also had to bear the burden of additional duty tax due to cars being stuck in the Mongla port. According to Bangladesh Reconditioned Vehicles Importers and Dealers Association (BARVIDA), a total of 8,040 reconditioned cars were imported in the FY2018-19, an all-time low in the span of the last 10 years. In comparison, the previous fiscal year brought in about 12,502 imports. Altogether, the state of affairs have effectively led to a loss of Tk. 1000 crores for businessmen in the reconditioned automobile market. According to sources from Mongla customs, currently an approximate of 2,834 reconditioned imported cars are lying in the port, out of which 1,100 are in the process of being auctioned off. Incidentally, BARVIDA have expressed their support and have called for a yearlong suspension of auctioning for those vehicles lying in the port, in consideration of the financial crisis at play.
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The Turbine is the only automobile & cycling magazine in Bangladesh since 2019! We are delighted to bring you the first ever automobile & cycling magazine in Bangladesh devoted solely to catering to the information demands of automobile and cycling enthusiasts. From the flamboyant muscle cars, bikes, and bicycles of the sensational sixties and seventies to the humble home Humber project, our readers will get the whole gamut of automobile related news, updates, features, and interviews. It will also help connect the car and bicycle enthusiasts. If you are a car, motorbike, or bicycle enthusiast, you must have noticed that there is no proper platform of information on the current automobile and bicycle industry, and that’s why we came up with the plan of filling this void. We know it’s a big step and a daunting task, but to take us one step closer to our dreams we need your help and support. If we all work together, we will not only run a successful business but will also be able to contribute to the automobile and bicycle industries in Bangladesh.
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