Rangs Limited unveils a promotional campaign, 'Eid Bonanza', for prospective Mitsubishi buyers yesterday. Photo: STAR

Sales of brand-new cars have regained momentum after a downtrend since January 2007, said Rangs Limited, the sole distributor of Mitsubishi vehicles in Bangladesh, yesterday.
"The automobile industry during the first six months of 2007 was panic stricken. But now, the trend looks fine," said Romo Rouf Chowdhury, managing director of Rangs Limited.
Chowdhury was speaking at a press conference on the occasion of announcing 'Eid Bonanza', a promotional offer for the prospective Mitsubishi buyers.
Chowdhury said the company's sales were not bad compared to its rivals in the local market last year. "But the sales was not up to the mark."
Under the promotional campaign, buyers of Mitsubishi Ex and Lancer will get free services and spare parts up to 50,000km of running. Free services will be available at Rangs workshops in Dhaka and Chittagong.
Traders of reconditioned cars dominate the car market in Bangladesh, industry insiders said.
Chowdhury said his company sells 700 brand new cars a year, adding that customers prefer low-priced cars to luxury ones. "Customers are unlikely to buy luxury cars like Mercedes-Benz," he said.
Rangs is also the sole distributor of Mercedes-Benz in Bangladesh.
With over 50 percent market share, Japanese Toyota is the market leader in Bangladesh followed by Mitsubishi, Suzuki, and Nissan.
The anticorruption drive launched by the caretaker government is thought to have dampened the spirits of prospective car buyers.
Businessmen showed reluctance to import new cars as their sales dropped significantly in the local market. No BMW, Mercedes-Benz and Volvo cars were sold in 2007, according to media reports.
Chowdhury said the prices of Mitsubishi Ex and Lancer are a maximum of Tk 25 lakh and Tk 16 lakh respectively. Last year Rangs sold 100 units of Mitsubishi Ex and 175 units of Lancer in Bangladesh.
The 'Eid Bonanza' campaign will attract customers, as they will get at least four-year after-sales services for free under the offer, he said.