Runner Automobiles Suffers Tk 96 Crore Loss

In 2024, Bangladesh’s vehicle market shrank to its lowest in a decade amid soaring costs, strict foreign currency controls, and declining purchasing power. Only 308,000 vehicles were registered, a sharp drop from previous years.

Singer Bangladesh has opened a new home appliances plant in the Bangladesh Special Economic Zone (BSEZ) in Araihazar, Narayanganj, as part of its expansion strategy to boost local manufacturing. The project, approved by the board on March 30, 2022, involved an investment of Tk 603.89 crore, with Tk 580.33 crore allocated for machinery and plant construction.

Bangladesh's electronics sector faces challenges due to inflation, currency devaluation, and reduced consumer spending. An 11% taka devaluation increased import costs, impacting prices. Consumer uncertainty, political unrest, and LC issues disrupted supply chains.

Bangladesh has registered only 396 electric vehicles (EVs) since allowing registration in 2020, with most being motorcycles (243), followed by 94 hard jeeps, 54 private cars, three microbuses, and one delivery van and auto-rickshaw each.

Singer Bangladesh has begun commercial production at its new plant in the Bangladesh Special Economic Zone (BSEZ) in Araihazar, Narayanganj, following a $78 million investment from Arcelik. The facility, covering 35 acres, will locally manufacture over 90% of components, reducing import dependence.

Sales of heavy-duty trucks and covered vans rebounded in 2024, driven by pent-up demand and fleet replacement cycles, despite economic uncertainties. According to BRTA data, covered van registrations increased by 57% to 2,949 in 2024 from 1,874 in 2023, while truck registrations grew 16.5% to 2,671 from 2,292.