Many key factors have dragged down the two-wheeler automobile market. This includes inflation and increased fuel prices, the main ones being the skyrocketing prices of fuel, maintenance costs, and manufacturing costs.
At the start of the year, a huge increment in the sales of motorcycles was recorded, and the sales increased by 22%.
Approximately four lakh motorcycles were sold, and the sales were at their peak. However, when the new month’s came, the situation in Bangladesh started to change, and difficult times came. Inflation and high fuel prices roamed the country, resulting in a huge decrement in sales of the two-wheeler market.
According to many motorcycle companies’ managers and dealers, this September has been the worst month of the year. As a result, some companies have suffered greatly and even stopped business in this sector.
And the time it was September, the sales had already dropped to nearly 50%, meaning that if 62,000 two-wheeler automobiles were sold in April, then the great number dropped to about 35,000 in September. The motorcycle market faced a great loss this year. It is expected that it will take about 2 years for the motorcycle sector to recover from its losses and debt.
One of the most important and main reasons for this worst sales month in the two-wheeler automobile market was the skyrocketing fuel prices as the rates of diesel and gasoline were increased by 50%, making it a Nightmare for civilians even to travel to get to their destinations. As a result, few automobiles were seen on the road compared to the starting months of the year.
To continue their sales of motorcycles, initiatives were taken to restore the lost prime of the sales. The motorcycle markets reduced the prices of two-wheeler vehicles to be affordable during such harsh times.
The companies’ profit before such a crisis cannot be gained at such times. However, this step prevented the two-wheeler vehicle sector from bankruptcy. Further manufacturing is slowed down as it has yet to be confirmed that there will be more demand for the vehicles by observing the current status of Bangladesh.
But, if the demand for motorcycles increases, further manufacturing will continue. However, this will be a great challenge, and there is little possibility of it.
If the fuel prices were to go down again, then the major problems of the state’s transportation sector would be solved. In addition, the market will very soon gain value, and the prices of motorcycles will rise back to those before these crises began.
However, observing the current situation in Bangladesh, it would be a challenge to overcome this inflation.
Daily commuters have reduced the use of their motorcycles and have preferred to travel in public transport such as buses and trains as they are much more affordable and feasible. These factors also resulted in a decrement in the prices of the two-wheeler automobile market throughout the country.
