‘Porsche” enters Bangladesh market

[imtiaz82]

Luxury adorns city streets
Syed Tashfin Chowdhury

‘Porsche” has now entered the luxury car track like the BMW, Mercedes Benz, Lexus, Volvo and other famous names that has increased two-fold in the city in recent times.
Dealers in the city said that around 500 cars of these brands have been sold during the last two years.


Between 2002 and 2003, only 230 luxury cars were sold out, and now the demand has increased by almost 115 percent, said a dealer from Motijheel.

Executive Motors Limited, sole dealer for BMW cars in Bangladesh, has been successful in this business over the last three years.

"We sold over 190 cars in the past two years with around 165 transactions already complete and over 25 more units to be delivered to our customers," said Tayabul Bahar, General Manager, Executive Motors Limited.

The BMW showroom was put up in the Tejgaon Industrial area, three years back. In its first year, the dealer sold about 60 units.

"Most models sold were from the 3-series and 4-series. 5-series models were also selling but at a slower pace," said Bahar.

Last year, over 75 cars were sold from the showroom.

"Surprisingly cars from the 3, 4, 5 series had an equal demand with the 6 series creeping into the race," Bahar added.

This year, they have exceeded their annual target of 81 units.


Mercedes Benz, one of the most reputed global brands, is fighting a neck-to-neck battle with BMW in the Bangladeshi market.


"We have sold around 187 units over the last two years," said Md. Ariful Azim, Head of Operation, Rancon Motors Limited, the dealers for Mercedes Benz in Bangladesh.

Third in the race, is Lexus with over 120 units of reconditioned and brand new cars sold, and Volvo keeping close behind having sold 65 cars in 2003-04.

"We face problems with taxes and heavy transportation costs in shipping each unit all the way from Sweden," said Hanif A. H. Nasim, Sales and Marketing Manager, A1 Motors Limited.

Nasim said that unlike most luxury car dealers, who ship their cars through neighbouring or South Asian countries like India or Singapore, A1 motors Limited yet still import their merchandise directly from the manufacturer in Sweden.

"As such, the prices of each car are naturally quite high and this has caused a slump in the demand of Volvo cars in the city," he said.

The overwhelming demand is especially from upcoming business magnates according to these dealers.

"Young businesspeople and chief executive officers of leading business organisations in the age range of late 30s to 40s are our customers. They know much about the durability, luxury, performance, speed and other details of each variety," said Bahar, about BMW's customer base.


"They prefer to ride in style and elegance now and therefore the demand for luxury cars are increasing," said the Volvo sales and marketing manager.

And to sustain their customer base, most dealers ensure the best possible after sales service while some provide test drive facilities too, to potential customers.

Besides its impressive sale in the city, sources from Executive Motors Limited, told Star City that a large number of cars are also being sold to buyers in Sylhet, Chittagong and other parts of the country.

The whooping sales and services provided by most dealers have been highly appreciated by the original manufacturers.

"We were awarded 'the Best Facilities Award 2005' from BMW headquarters," said Bahar.

He further said that BMW is planning to initiate a plant in India by early 2007.

A1 Motors Limited on the other hand, is negotiating with the Volvo Head-Office in Sweden for discounted prices, according to company sources.

The lucrative market is opening avenues for dealers to bring in more brands like the Jaguar, Cadillac and Lincoln, which may hit the city streets next year or early 2007, said a dealer, on condition of anonymity.

http://www.thedailystar.net/2005/11/...1212502117.htm

Edited on, November 20, 2005, 7:19 PM GMT, by imtiaz82.

[Dawah]

Any one buys those cars should be visited by an "honest" Tax collector. The "honest" tax collector will soon afford one for himself.

BD, Ranked #1 .................................

[Orpheus]

Not all rich people acquire wealth via illegal means, many do. So I don't agree with you. I would think a LOT of those money are from abroad. I think that's one of the reason why you see sales up in place like Sylhet.

There are a LOT of bangladeshi multi-millionaires abroad - and most of their money are coming from successful businesses...... So chill and think how you can buy one for yourself in the future instead of just reading about other people.

Edited on, November 20, 2005, 9:47 PM GMT, by Orpheus.

[Carte Blanche]

Porsche?! Where do you drive these cars?

[BangladeshFan]

there are not many successful bangladeshi businessman abroad, the ones who do good jobs abroad wont buy these cars.

i think most of these cars are bought by local businessmen or politicians. it is easy to make money in bd by business if one knows the ways (or mend the ways). you dont pay taxes, no min wage for workers and ofcourse u dont have to give back bank loan

[tiger_man]

actually i would be too worried if i had a porsche in dhaka.....a rickshaw bumping front nd rear would be my biggest concern...

[tiger_man]

Originally posted by Orpheus
Not all rich people acquire wealth via illegal means, many do. So I don't agree with you. I would think a LOT of those money are from abroad. [/i]

the fact that you dont pay tax (most of them dont like it or not) when you are filthy rich, is by itself an illigal mean of retaining money that should have been paid to goverment...

when i was in dhaka i used to be in this posh school where atleast 60 percent of the kids comes from wealthy background......10 percent of them were filthy rich nd had no ends to access to marujiana, smuggling connection, dad is some mp in parliament....one of them, a class-mate of mine, was even studying for free the school fees coz his dad has connections with the tax office nd is fixing up the school so the school doesnt have to pay tax....

personally i am not against rich ppl and dream of being rich oneday....but seriously, in bangladesh, if u arent rich coz of the money flooding from overseas, then there is some thing fishy about you (in most cases, mind you, not all)....

[Orpheus]

I think we should have some stats on Bangladeshi businesses....(maybe we do - need to search).

Your guesses are as good as mine without them... My assumption is based on what I observe. It's not really that hard to make a million....and w/ some solid businesses - it shouldn't take much to create multi millionaires.

For example, as you know most Indian restaurants in London are own by Bangladeshis... then we have Indian restaurants here in Manhattan (NYC) that are own by Bangladeshis...

Ofcourse, probably 80%+ Bangladeshis abroad aren't even close to having money like that.. it';s always top 5% carraying 95% wealth but you also have to remember that the number of cars sold are still less than 200, that's still quiet small number.

I do agree with you that ppl with just a "good job" couldn't afford this...

and carte, it's about having the car

[Orpheus]

Originally posted by tiger_man
....

you wouldn't be complaining if one of them was your dad :P

[Orpheus]

It might just be local businessman and politicians as u mentioned....

we should really have some stats!! would be interesting to know.

[jx3]

go here and see who buy these cars!
www.drivetimedhaka.com

Edited on, November 20, 2005, 11:06 PM GMT, by jx3.

[Orpheus]

Originally posted by jx3
go here and see who buy these cars!
www.drivetimedhaka.com

Edited on, November 20, 2005, 11:06 PM GMT, by jx3.

your are just plugging in your site now...!! WHy dn't u tell us... just went there.. there's nothing !

[tiger_man]

Originally posted by Orpheus

you wouldn't be complaining if one of them was your dad :P

well.....i wudnt...but thats not the case

[Fazal]

Porsche + Street in Dhaka == Car + pothole (like the picture)

[ZunaidH]

Originally posted by Orpheus
Not all rich people acquire wealth via illegal means, many do. So I don't agree with you. I would think a LOT of those money are from abroad. I think that's one of the reason why you see sales up in place like Sylhet.

There are a LOT of bangladeshi multi-millionaires abroad - and most of their money are coming from successful businesses...... So chill and think how you can buy one for yourself in the future instead of just reading about other people.

Edited on, November 20, 2005, 9:47 PM GMT, by Orpheus.

Orpheus;

I see som hole in your logic. The simple means of spending money is where one earns it, especially for things llike cars.

Chances are Dawah is right

[pothik]

Hi Guys,

I am looking for a newspaper/magazine article that mentions that the CEO of Porsche India was fired as he/she failed to see the market potential in Bangladesh. Do any of you have any clue regarding such news and source of it. will be really grateful if you can let me know..

cheers,

Pothik .

[akabir77]

no legally earned borlok will waste their money on cars in bangladesh. 100% owners have black money to waste...