The registration of motorcycles has marked a drastic fall in the country in the last eight months of this year compared to that of 2019 due to the Covid-19 pandemic.
According to the Bangladesh Road Transport Authority (BRTA) data, 179,140 motorcycles were registered in the country between January and August 2020 while 275,857 motorcycles during the same period in 2019.
Over 2.27 million motorcycles were registered during the period between 2011 and August 2020 while the number was only 759,257 until 2010, the official data showed.
Major companies operating in Bangladesh are Bajaj Auto, Bangladesh Honda Limited, TVS Bangladesh, Yamaha Motorcycles, Hero Motocorp, Runner, Walton, Suzuki, Keeway, and Mahindra. The companies are focusing on launching new brands with increased speed to raise their market share.
The BRTA data showed that a total of 552,513 motorcycles were registered in Dhaka from 2011to August 2020 while 210,081 were registered until 2010.
Apart from this, vehicle registration also decreased in Dhaka, the data revealed.
The government formulated the Motorcycle Industry Development Policy in 2018 with a view to boosting the industry's growth further and promoting manufacturing of motorbikes locally and reduce dependency on its imports. It has set a target to increase motorcycle production up to 1.0 million units by 2027.
Of the motorcycles, 46,697 were registered in Dhaka alone during the period while 67,410 motorcycles got registration in Dhaka during January to August 2019, according to the data.
It also revealed that 406,897 motorbikes were registered in 2019 while 395,603 in 2018 and 326,550 in 2017.
In the fiscal year 2016-17, the country's motorbike market started expanding as the government reduced the supplementary duty from 25 per cent to 20 per cent on import of the motorcycle components.
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