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Automobile Industry

Bangladesh Enters Automotive Industry

With an increasing demand for personally owned vehicles, the country is trying to shift from importing reconditioned cars to assembling brand new cars locally, thanks to some enterprising businesses. Fair Group joins the race of car assembling in Bangladesh to turn the country a hub of the global automotive industry. The group is expected to start production of Hyundai passenger vehicles next year with a capacity of making 5,000 units a year. Kazi Sifat writes about the transformation in Bangladesh automotive industry.

All New Elantra 2021

After emerging as a global player in the textiles and clothing industry and entering a few other potential sectors, Bangladesh is now trying to step into a new market – the automotive industry. In fact, in Bangladesh, the thought of personally owning a car has always been there. Buyers have to pay double or even more to own a car owing to high taxes imposed on imported cars. Still, rapid economic development has led to the rise in the demand for private cars, as both luxury and necessity. In the past 15 years, the number of privately owned cars has increased from 300,000 units to over 4.0 million units, showing 1,100 per cent growth according to a report published in the local premier English newspaper Daily Star. 

Such rising demand makes Bangladesh a lucrative investment destination for companies to venture into manufacturing cars locally and a few companies have come forward to embark on this new journey of turning Bangladesh into a car-producing country. However, despite the domestic market growth, four out of five privately owned cars in Bangladesh are reconditioned, second-hand vehicles.

As Bangladesh delves into the automotive industry, individuals may find themselves contemplating the possibility of upgrading their vehicles amidst the burgeoning market. For those considering a transition, the option to Sell Car emerges as a practical solution to facilitate the acquisition of newer models or locally manufactured vehicles. By leveraging platforms tailored to the buying and selling of automobiles, individuals can seamlessly navigate the process of parting ways with their current vehicles, freeing up resources to invest in the evolving automotive landscape of Bangladesh.

LEGACY OF AUTOMOTIVE INDUSTRY

The history of the automotive industry in this part of the world dates back to pre-liberation war period as Pragoti Industries Limited was established in 1966 in Chittagong’s Barabkunda. It is the first and the largest vehicle assembling plant in the country. It has so far made 50,000 units of motor vehicles, mostly Mitsubishi. It is expected that the company will make its own brand of motor cars in the future under a close association with Mitsubishi.

Another company made deals to ensure that private cars reach the market for general consumers. Rangs Limited, has been putting together its own line of Mitsubishis at its Kashimpur plant in Gazipur. Since its inception in 2017, it has successfully assembled and sold 200 units. Since 2017 PHP Motors has also been assembling Malaysia’s Proton cars at its Sagarika plant in Chattogram. It is capable of producing 1,200 units of vehicles a year.

Director & CEO of Fair Technology Mutassim Daiaan, Advisor of Fair Group retired Major General Hamid R. Chowdhury, Head of Marketing J.M. Taslim Kabir, Head of Sales Abu Naser Mahmud and other officials are seen at the launching ceremony of the Elantra 2021.

THE NEWEST PLAYER

In January 2021, a new entrant in the car manufacturing game caught the spotlight. Fair Technology Limited announced they are going for production of the Hyundai cars at their plant in Kaliakoir Gazipur. After successfully manufacturing Samsung Smartphones and Consumer Electronics in Bangladesh, Fair Group is taking it a step further to manufacture automobiles, thus, making itself a part of the automotive history of Bangladesh.  Winning a deal with the South Korean car giant, Hyundai Motor Company last year, the Bangladeshi enterprise has sold over 200 units of Hyundai cars in the country.

Fair Technology is expected to start production next year with a capacity of making 5,000 units a year. The cars that will be produced locally are also expected to be 25 per cent cheaper than those imported from the Ulsan plant in South Korea. With massive economic growth and infrastructure development initiatives by the government, the requirement for faster transportation became evident.

Compared to Asian Market, Bangladesh 4-wheeler penetration per household is extremely low. In India, every 10 household has a car, whereas in Bangladesh it is one car for every 125 households.

Fair Group’s aim is to deliver the “one family … one car” concept by establishing a manufacturing set-up and making prices more affordable. The group will also bring the latest technology and innovation to market faster.   

This step taken by the group marks a giant leap in the industrial race of Bangladesh. The Chairman of Fair Group and Managing Director, Fair Technology Ruhul Alam Al Mahbub says, “Fair Technology launched a versatile line-up of passenger vehicles in a pandemic situation and is taking upon challenges every day to expand the automotive wing horizontally and to ensure widespread authorized Hyundai service country-wide. Our vision is betterment and enrichment of people’s lifestyle by using Hyundai’s technology and expertise.’’

The group has plans to introduce electric cars. Director and CEO of Fair Technology Mutassim Daiaan says, “Electric cars are already the present and the future of the automobile market. Fair Technology is planning to introduce Hyundai‘s electric cars in Bangladesh soon which will a new era in the automotive industry”

INTRODUCING ELANTRA 2021

Seizing the spotlight with this disclosure, Fair Group has also launched the brand new model of Hyundai’s Elantra.

Hyundai’s Elantra 2021 is redesigned far advanced from its predecessors — keeping up to its tagline of giving a “sensuous sportiness” kind of look. It is wider and longer than the previous models of Elantra, assuring more interior space for both comfort and performance.

The new Elantra is defined by its stance that looks like geometric crystals and divided body surfaces. Making three distinct lines meet at one point is one of the main ingredients in making the colourful parametric dynamics of the Elantra. Along with a parametric-jewel-pattern grille on the front with turn-signal integrated into the design, the back of the car gets its uniqueness by the way of implementing the H-shaped tail-lamp, representing the ‘H ‘in Hyundai.

Looking at the interior of this car, one would find an 8-inch state-of-the-art infotainment system that is fully driver-oriented and can pair with both android and iOS devices. The entire front seat is built prioritizing the convenience of the driver. The car also features an automatic sunroof on the top.

TECHNICAL FEATURES

The 2021 Hyundai Elantra comes with a 1.6L MPI engine producing 126 hp. It is mated with 6-Speed automatic transmission which provides improved performance and fuel efficiency. The 2021 Elantra is manufactured at the Hyundai Motor Company plant in Ulsan, South Korea. With all the exciting features it boasts, this Elantra has won the 2021 North American Car of The Year award.

THE INCENTIVES

Advisor, Fair Group, retired Major General Hamid R. Chowdhury says, “The all-new Elantra leads the striking driving trend in the era of sustainability with its high-quality product value. Its powerful, edgy optimism design, motivating the next generation of inquisitive innovators to change the rules, change the game, change the world”

The car comes with an attractive three-year or 100,000 km warranty—enough to make consumers smile.

“We’re planning special campaigns for customers who look for the latest versions of cars from global brands to feel premium,” said the Fair Group Chief Marketing Officer. And this car in its brand-new condition is supposed to cost its users a sum of BDT 37 Lakh. The customers who have a budget of over BDT 30 Lakh usually go for brand-new cars. The Elantra in Bangladesh is going to be a mid-range sedan and compared with others in the Taka 30-40 Lakh range, its price is quite competitive.

“Customers who value the premium look and feel of a sedan at an affordable price are our main target,” says Fair Group Head of Marketing JM Taslim Kabir.

Elantra has a lot to offer at Taka 37 Lakh. With that kind of price, it might become a tough contender in the mid-range market.

Fair Technology Limited has added some offers to its sale of the Elantra as a “Cherry on top” for the customers. From its e-commerce platform, fairmart.com.bd, the first buyer of the Elantra 2021 will get a Samsung 4K Smart TV. Second, third and fourth customers will get 43” Samsung TVs and special service packages await for the next 10 customers.

Ruhul Alam Al Mahbub Chairman, Fair Group
Mutassim Daiaan Director and CEO, Fair Technology
Major Gen. Hamid R. Chowdhury Advisor, Fair Group
Taslim Kabir Head of Marketing, Fair Group
Abu Naser Head of Sales, Fair Group

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