Indonesian vehicle sales plunged 56% in April from a year earlier, showing the sector was still suffering from a government decision last year to raise fuel prices sharply, according to a Reuters report.
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Automotive Industry Association (Gaikindo) data showed that sales of cars and trucks fell to 22,578 units in April, lower than a previous estimate by an industry executive that sales would reach around 24,000 units.
Toyota sales dropped to 9,610 units last month from 15,419 units in April 2005 though the automaker took a 43% market share last month.
Honda’s sales were off 59% to 2,119 vehicles last month for third place after Toyota and Suzuki.
Automotive sales in Indonesia, the world’s fourth most populous country with 220 million people, have been hit by a government decision to more than double domestic fuel prices last October, which pushed inflation to its highest level in more than six years, Reuters noted.
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By GlobalDataVehicle sales in the first quarter barely reached 80,000 units, nearly 45% lower than the same period in 2005. Some industry executives predict total sales this year will be under 400,000 units, the news agency said, adding that, in 2005, sales of cars and trucks hit a historical high of 533,910 units.
