Indonesian car distribuors are hoping the country’s first international motor show this month will help the ailing sector swing back into the fast lane after months of falling sales.
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Reuters said top global makers such as Toyota and Honda plan to unveil new models during the 10-day event that begins on Thursday in Indonesia, Southeast Asia’s biggest economy.
Automobile firms in the country of 220 million people are banking on the new models and the start of a declining interest rate cycle to rack up around 1.2 trillion rupiah ($US130.9m) in sales from some of the show’s expected 200,000 visitors, the report said.
“We are hoping this event will provide the much-needed push to the country’s automotive sector,” Wiwie Kurnia, the head of the organising committee, told Reuters.
“Although the market is not as good as last year, we are hoping to get the same sales as last year as consumers tend to use this event to purchase new vehicles, due to some promotions.”
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By GlobalDataThe auto sector is an important driver of economic growth in Indonesia, but it has been through a rough ride since the government sharply hiked domestic fuel prices last year to scale back costly fuel subsidies as global oil prices have risen, the news agency noted, adding that domestic vehicle sales fell 49.3% in the first half of this year.
