Indonesian automakers are revising full-year sales forecasts for the domestic market after vehicle deliveries to dealers reached a record monthly high in July of 60,836 units – up over 55% compared with July 2007 and 11.2% higher than the previous month.
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This brought the January-July cumulative total to 353,501 sales – almost 47% higher than the 240,908 units sold in the same period of last year.
Dealers stocked up heavily in July in anticipation of brisk sales ahead of the Jakarta motor show held that month.
Preliminary estimates released by Toyota Astra Motor (TAM), the local distributor, show year-on-year market growth of over 38% in August to 58,000 units – the second-highest monthly total for this market after July’s record.
Jodjana Jody, head of sales at PT Toyota Astra Motor, said the company delivered 18,770 vehicles last month – up 39.1% from the 13,942 units sold in August 2007.
Car buyers have seemingly shrugged off the near 30% average increase in fuel prices in June and four hikes in inter-bank interest rates in as many months to 9%.
Inflation remains high, however, at almost 12% in July. Indonesia’s commodity-based economy has benefited from rising prices and from high levels of investment, which continue to drive domestic spending. GDP growth was around 6% in the first half of the year.
Last week Toyota-Astra Motor said it now expected full-year sales in the region of 575,000-600,000 units – which would break the previous record of almost 534,000 units sold in 2005.
Demand for key models, particularly small cars such as the Honda Jazz (Fit), and the Toyota Avanza and Rush and Daihatsu Terios remained very strong. New models also are helping to drive sales higher, including the redesigned Nissan X-trail and the recently face-lifted Toyota Kijang Innova.
Toyota sold 119,087 vehicles in the first seven months of the year, to account for just over a third of total sales.
Mitsubishi was second with 52,135 mostly commercial vehicle sales – claiming a 14.7% market share. Suzuki sold 46,532 vehicles for a market share of 13.2%; Daihatsu 42,437 units (12%); Honda 31,267 units (8.8%); and Nissan 20,329 units (5.8%).
Tony Pugliese
