INDONESIA: January car sales up almost 50% year on year
Indonesian domestic vehicle sales, a key indicator of economic activity, surged last month by 49.83% to 45,481 units compared to January 2004, PT Toyota Astra Motor said, according to Reuters.
In a statement, the vehicle distributor reportedly said the number of Toyota vehicles alone sold rose 45.95% to 14,007 units for the month.
Consumption has been the main driver of economic growth in Indonesia in recent years. A recent Reuters poll of 10 research houses forecast GDP growth to accelerate to 5.3% this year from an estimated 4.9% last year.
Last year, total vehicle sales in Indonesia were 483,283 units, 36% higher than 2003, Reuters noted.