INDONESIA: Car sales doubled in February
Asia Pulse reports that car sales in Indonesia more than doubled to 47,500 units in February from 23,650 units in the same period last year according to the Association of Motor Vehicle Industries (Gaikindo).
The strong figures continue an Indonesian market rebound that began in 2007.
Sales in February also represented a 14.7% increase compared with sales in January this year, despite shorter working days, Gaikindo said.
Sales of market leader Toyota totaled 16,174 units or a market share of 34.1%.
Asia Pulse reported that Gaikindo chairman Johnny Darmawan said the sales performance exceeded expectations as normally sales declined in February every year.
Last year saw the lowest monthly sales in February at 23,650 units.
Domestic consumers have responded strongly to the sharp cuts in interest rates back to the more benign levels of around 8%, from a high of 12.5% at the end of 2005.