New vehicle sales in Indonesia fell by 11.4% to 58,837 units in June from 66,389 units in the same month of last year, according to wholesale data compiled by industry association Gaikindo.
Deliveries to dealers were impacted by significant seasonal factors with the country virtually shutting down for half of last month for the annual Idul Fitri holidays – which last year fell in July.
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The market was still up by 3.8% at 553,779 units in the first half of the year from 533,506 a year ago. Of these, close to 424,000 were passenger vehicles and almost 130,000 were trucks and buses.
Toyota and Lexus first half sales amounted to 162,200 units, for a combined market share of 29.3%, while Mitsubishi and Fuso distributor KTB reported 100,120 deliveries and a market share of 18.1%.
Daihatsu delivered 94,930 vehicles in this period; Honda 76,690 units; Suzuki 60,930 units; Hino 16,910 units; and Nissan 12,430 units.
While a strong rebound is expected in July, rising interest rates, the falling rupiah, price hikes and more cautious lending are all expected to weigh heavily on the market in the second half of the year.
Full year GDP forecast has been pared back to just over 5% after the Indonesian central bank raised interest rates by 100 basis points over the last three months.
