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LightCastle Partners has partnered with Mitsubishi Bangladesh and Rangs Limited to conduct a comprehensive consumer research study on passenger vehicle purchase behavior, decision-making pathways, and ownership experiences. The strategic initiative aims to uncover deep, data-driven customer insights into personal vehicle buyers—with a dedicated focus on the Mitsubishi Xpander and on buyers of competing vehicles, to understand their purchase motivations, how they decide, and what shapes their preferences . The findings will guide product positioning, customer acquisition, dealership engagement, and market expansion.
Bangladesh remains one of Asia’s least motorized markets, with only about 2.5 cars per 1,000 people. The automobile industry is worth roughly USD 1 billion and is dominated by motorcycles, while the passenger vehicle segment is smaller but evolving. Around 5.8 million vehicles were registered up to 2023, of which about 0.65 million were private cars, jeeps and pickups. Local assembly accounts for only about 2% of the market, even as the government pushes to build a domestic production hub through the Automobile Industry Development Policy.
The buyer landscape is shifting. Fresh registrations of private passenger cars fell to 9,387 units in 2025, the lowest annual figure since 2011, and reconditioned imports also declined in the July to September quarter. At the same time, SUV registrations grew by 77% between 2020 and 2024, a thriving secondary market is valued at an estimated BDT 150 billion a year, and electric and hybrid vehicles are slowly gaining ground despite concerns about charging infrastructure. Changes in import rules, taxation and registration practices can quickly alter the picture, which makes it important to understand what buyers actually value when they commit to a vehicle.
Through this study, LightCastle Partners will map the complete purchase journey of private vehicle buyers, from the moment a need arises and information is gathered, through showroom engagement and final purchase, to ownership and aftersales experience. The research will examine who the target customers are, which brands and models they consider and why some drop out, which information sources and influencers matter at each stage, and what finally tips the decision. It will also look at how brand perceptions, financing, dealership experience and views on locally produced vehicles shape choice.
The study will survey buyers across Dhaka and Chattogram, the two largest centers of private vehicle ownership, through structured face-to-face interviews. Respondents come from three groups so that Xpander buyers can be compared directly with the alternatives they weighed:
This design will show why buyers choose the Xpander, why others choose competing new vehicles or reconditioned cars, and where the Xpander falls out of consideration along the way.
The engagement will translate its findings into practical recommendations for winning new customers, strengthening dealership and aftersales experiences, and improving retention and loyalty. It will profile distinct customer segments and personas, assess where competing brands and reconditioned vehicles win over buyers, and identify the actions most likely to convert prospective customers into Xpander owners.
The 16-week assignment began in September 2026, with fieldwork under way in October and the final report and recommendations due in early January 2027. By grounding decisions in what real buyers say and do, the study aims to help Mitsubishi Bangladesh and Rangs Limited sharpen their sales and marketing strategies in a changing market.
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