Staff Correspondent : <\/strong>The Bangladesh Reconditioned Vehicles Importers and Dealers Association (BARVIDA) has called for immediate policy interventions to prevent the market's collapse and drive the adoption of fuel-efficient, environment-friendly vehicles. The reconditioned vehicle industry is at a crossroads: It's President Staff Correspondent : The Bangladesh Reconditioned Vehicles Importers and Dealers Association (BARVIDA) has called for immediate policy interventions to prevent the market's collapse and drive the adoption of fuel-efficient, environment-friendly vehicles.The trade organization called this point at a press conference at the FARS Hotel and […]<\/p>\n","protected":false},"author":6,"featured_media":28007,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1,110,93],"tags":[54],"class_list":["post-28006","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bangladesh","category-economy-business","category-nationwide","tag-54"],"yoast_head":"\n
The trade organization called this point at a press conference at the FARS Hotel and Resorts in Dhaka on Saturday.
BARVIDA President Abdul Haque said at the conference that rising import costs, a depreciating taka, high consumer loan rates, and stagnant middle-class incomes have battered the reconditioned car business, traditionally a critical pillar supporting the country's urban mobility. Our sector is at a crossroads.\"
The industry is facing a serious downturn, with import registrations falling nearly 30 percent in 2024 amid economic headwinds.
BARVIDA also called for urgent policy reforms, particularly a reduction in supplementary duties (SDs) on hybrid cars, to restore affordability and promote green mobility.
A major part of BARVIDA's proposals for the upcoming 2025-26 national budget is the reduction of SDs on hybrid vehicles.
BARVIDA's president said that while many countries are slashing duties and offering incentives to accelerate the transition towards green transport, Bangladesh's tariff structure remains \"outdated and punitive.\"
Currently, SD rates are based on engine displacement (cc slab), which, according to Haque, fails to account for the fuel-saving and environmental benefits of hybrid technologies. As a result, hybrid vehicles, despite their superior efficiency, are often priced beyond the reach of middle-class consumers.
\"Without correcting the duty structure, Bangladesh risks falling far behind the global movement toward net-zero carbon emissions,\" said the BARVIDA president.<\/p>\n","protected":false},"excerpt":{"rendered":"