Auto manufacturers have shifted their priorities to not only meet emissions standards, but also to keep up with government policies to improve air quality in each country. Fuel efficient cars have not yet caught on in developing markets as fast as they have in Western markets but there is a slow, apparent change of car buyers going green globally. Carmudi analyzed millions of listings on the company’s car classifieds website, and the data shows that auto demand worldwide, including Bangladesh, are shifting towards greener rides.
Carmudi found out that in Bangladesh, gas powered car listings grew more than 75 percent this year compared to 2014. On the Carmudi platform, gas powered cars also make up 21.7 percent of all car listings in Bangladesh, where new fuel standards are set to be fully phased out by 2020.
Carmudi also found that countries in the Middle East such as UAE and Qatar are still in love with their SUVs. The number of eco-friendly car listings in the country stand at 5.8% and 1.88% respectively, but green cars are slowly becoming a more attractive option for car buyers.
In Pakistan, green cars have also gained traction in recent years with the number of hybrid cars listed online growing 85 percent in the past two years, alongside a 17.48 percent slump in listings for petrol-fueled cars in the country. This trend goes hand in hand with governmental policies to improve the country’s air quality and cut carbon commissions in the coming decade.
In Sri Lanka, 43.5 percent of cars listed for sale are eco-friendly cars, and out of those, 93 percent consist of hybrid cars. The hybrid car market in Sri Lanka is monopolized by the likes of Honda’s Insight Hybrid model and Toyota’s Prius Hybrid Synergy Drive models. Carmudi Sri Lanka also saw growth in the number of electric car listings, which grew four percent in the past 12 months.
Despite the apparent shift towards green rides in Asia and Middle East, countries in Africa have yet to jump on the bandwagon. Carmudi saw low percentages of eco-friendly cars listed for sale on the platform from West African countries such as Senegal (0.79%), Ghana (0.55%), Nigeria (0.37%), and Ivory Coast (0.26%). The slow adaptation can also be seen in East and Central African countries such as Cameroon (0.97%) and Tanzania (0.70%).
So will the emerging markets continue to grow more fond of environmentally-friendly cars? Carmudi predicts that motorheads in Africa will stick with gas-guzzling petrol-powered cars. In the Middle East, the eco-friendly trend will pick up in the coming years as many federal institutions across the region have begun to adopt electric or hybrid cars while motorists in Asia will most likely switch to greener and more economical rides in the near future.
Carmudi was founded in 2013 and is currently available in Bangladesh, Cameroon, Congo, Ghana, Indonesia, Ivory Coast, Mexico, Myanmar, Nigeria, Pakistan, Philippines, Qatar, Rwanda, Saudi Arabia, Senegal, Sri Lanka, Tanzania, United Arab Emirates, Vietnam, and Zambia. The vehicle marketplace offers buyers, sellers and car dealers the ideal platform to find cars, motorcycles and commercial vehicles online.