Bangladesh has taken a significant step in its automobile industry by starting to sell world-class luxury vehicles, including the latest 1,600 cc CERATO sedans from the renowned South Korean car manufacturer KIA. This move comes as the country aims to make high-quality cars more affordable for local consumers and to boost its automotive sector.
State-owned Pragati Industries Limited, which is assembling these vehicles, is marking a new era in Bangladesh’s manufacturing capabilities. The CERATO sedans, equipped with advanced features, are now available for purchase at the company’s sales center. The price for each vehicle has been set at 4.5 million taka, or approximately Rs. 11 million.
This new initiative from Pragati Industries Limited is expected to have a significant impact on both the public and private sectors, with the company planning to cater to the rising demand for modern vehicles. Managing Director M. Abdul Kalam Azad highlighted the importance of this move in strengthening the local economy by providing high-quality vehicles to both government and private sector clients.
Azad also shared that Pragati Industries has achieved impressive financial results this year, earning 72.62 crore taka in profit and contributing 168.89 crore taka to the state treasury. This success not only shows the company’s potential in the domestic market but also demonstrates its growing influence in the regional automobile industry.
Bangladesh’s move into the luxury car market contrasts sharply with Sri Lanka’s ongoing economic crisis. The island nation is struggling with a severe dollar shortage that has hampered its ability to import goods, including vehicles. The contrast highlights the differences in the economic trajectories of the two countries, with Bangladesh making strides in local manufacturing and export potential, while Sri Lanka continues to face difficulties in sustaining its imports and managing foreign exchange reserves.
