Automotive industry

Outlook for Automotive Industry in Bangladesh, Sri Lanka, Nepal and Bhutan to 2025 – Rising consumer spending, even though import restrictions in the economy will drive growth in the automotive sector: Ken Research

GURUGRAM, India, December 14, 2021 /PRNewswire/ — Nepal News

Main conclusions

  • Bagmati and Lumbini are the main regions of Nepal representing the lion’s share of sales in the automotive industry.
  • In 2019, the country was hit with a nationwide lockdown due to COVID and this was implemented during peak sales season.

Automotive industry trends in Nepal: Nepal does not have an indigenous car manufacturing company. The majority of vehicles are associated with Japanese companies. This makes the country highly dependent on vehicle imports. The two-wheeler market is more popular with consumers than the four-wheeler and heavy-duty market.

Public transport has a major impact on car sales: Public transport in Nepal is privately funded, making costing and tariff setting a profit-driven enterprise. Public transport to Nepal also faces a major congestion bottleneck. From 2005 to 2018, vehicle registration in Nepal increased at an annual growth rate of 14% based on the findings of a benchmark fuel economy study. This growth clearly indicates how rapid urbanization has fueled motorization across the country. In 2018, according to the Department of Transport Management, 96% of registered passenger vehicles were private vehicles. Public transport vehicles represent only 4% of the total registered vehicle fleet, but the modal share of public transport trips is almost equal to that of private vehicles. The situation has been made worse by the pandemic, increasing the sale of two-wheelers as they are cheaper than four-wheelers.

Impact of Covid-19: In 2019, the country was hit with a nationwide lockdown due to COVID and this was implemented during peak sales season. For example, 50% of Yamaha’s sales were made this season, but due to COVID, sales in 2020 were reported as 0. After the lockdown was lifted the July 21, industry executives said they hoped things would improve. As a result, they started launching discount programs and offers. There was a massive increase in 2 wheeler sales as people were reluctant to travel in any mode of public transport.

Ken Research analysts in their latest publication “Automotive Industry Outlook to 2025 – Coverage on Bhutan, Sri Lanka, Bangladesh and Nepalprovides a comprehensive analysis of the growth of the automotive sector in Nepal, Bhutan, Bangladesh and Sri Lanka. The report covers various aspects including market size, total number of players, market share by OEM type and by vehicle type. The report also focuses on the impact of Covid-19 on the industry and provides expert insights on industry trends.

Key Segments Covered:-

  • By type of vehicle
  • By OEM
  • By region (Nepal alone)

Automotive OEMs Covered in the Report:-

  • Toyota
  • Mitsubishi
  • hyundai
  • Honda
  • televisions
  • hero
  • Audi
  • Nissan
  • Bajaj Auto
  • Maruti-Suzuki

Key Target Audience:-

  • Automotive OEMs
  • Consulting companies
  • Industry Associations
  • Regulatory bodies

Time period entered in the report: –

  • Historical period– 2016-2020
  • Forecast period– 2020-2025

Request Sample Report @ https://www.kenresearch.com/sample-report.php?Frmdetails=NDc2NDk5

Main topics covered in the report:-

  • Nepal Bhutan Sri Lanka and Bangladesh Automotive sales volume
  • Nepal Bhutan Sri Lanka and Bangladesh Automotive Vehicle type (in units)
  • Nepal Bhutan Sri Lanka and Bangladesh Motor vehicle type (market share)
  • Motor vehicle registration in Nepal by region
  • Vehicle registration in Nepal by state
  • Nepal Bhutan Sri Lanka and Bangladesh Automotive manufacturers market share
  • Future Market Size and Segmentations, 2020-2025F
  • Covid-19 impacts Bangladesh’s auto industry
  • Covid-19 impacts Bhutan’s automotive industry
  • Covid-19 impact on Nepal automotive market

Time period entered in the report: –

  • Historical period– 2016-2020
  • Forecast period– 2020-2025

For more information, refer to the link below:-

Bangladesh and Bhutan Automotive Market Research Report

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The used car industry in Indonesia grew at a CAGR of 4.5% based on gross transaction value over the period 2014-2019 and at a CAGR of 2.0% based on sales volume. The general economic slowdown, as well as a slowdown in the automotive industry due to reduced consumer purchasing power, contributed to the decline in sales in 2016-2017. The entry of various finance companies into the used car industry, as well as the launch of OEM certified used car programs, have been the major growth drivers for the industry. The boom in the number of online auto-classified platforms and consumer attraction to online platforms are contributing to the decline in used car sales in the country.

Philippines Used Car Market Outlook to 2025 (Second Edition): The pandemic has caused increased demand for used cars coupled with increased internet penetration for used car market resilience during economic crisis

The Philippine used car market is in its growth phase, having reached a CAGR of 7.4% (in value in PHP billions) during the period 2015-2020. An increase in demand for passenger cars, coupled with convenient financing facilities, rising per capita income, increased internet penetration and increased digitization of the used car space have been the main factors that have led to the growth of the used car market in The Philippines.

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