Dhaka, Bangladesh (BBN) – Import of reconditioned cars has become sluggish in the third quarter of this fiscal year, Chittagong Port officials said.

Only 3,747 cars were unloaded at Chittagong Port during the January-March period of the fiscal year 2010-11, according to statistics.

The number of imported car in this period is much lower compared to the corresponding period last year, the New Age, a local newspaper, reported quoting a port official.

In calendar year 2010 a total of 33,000 cars were imported, lower than 37,634 cars in 2009.
Bangladesh Recondition Vehicle Importers and Dealers Association (BARVIDA) President Abdul Mannan Chowdhury said that car imports would decline drastically in April as importers were facing trouble in procuring and shipping cars from Japan as used cars auctions were not held in March regularly due to the tsunami that hit the country.

“Fresh shipment of used cars is scheduled to start from Japan on 4 April, but I think we will have to wait till 15 April to have the number of cars required for shipment,” the BARVIDA chief told the newspaper.

He admitted that car prices in Dhaka rose by up to BDT 50,000 in March due to the supply constraint.

More than 80 percent of Bangladesh’s imported cars are reconditioned or used cars, mainly sourced from Japan.

BBN/SSR/AD-06Apr11-3:05 am (BST)