INDONESIA: Vehicle sales rise 34.6% in February
Vehicle sales were 34.6% higher in February than a year earlier, the country's largest automotive distributor told Reuters on Wednesday.
PT Astra International Tbk reportedly said 45,718 vehicles were sold in Indonesia in February, bringing sales for the first two months of 2005 to 91,199.
Astra's domestic sales in February grew 35.7% from a year earlier to 20,894 cars, trucks and vans, giving the company, partly owned by Singapore's Jardine Cycle & Carriage, 45.7% of the domestic market, Reuters said, noting that the industry has a 2005 sales target of 520,000 vehicles and, last year, 483,283 vehicles were sold, up 36% from 2003.
Bisnis Indonesia newspaper on Wednesday reportedly quoted the secretary general of a local automotive industry association as saying that expectations of higher fuel prices did not harm sales in February - the government raised domestic fuel prices by an average 29% on March 1 to help cut costly fuel subsidies.