PT General Motor Indonesia is laying out significant plans for next year which include new models, new retail outlets and the start of construction on a new plant.
Go deeper with GlobalData
GM Indonesia is optimistic about its future here, managing director Mukiat Sutikno said in in an interview with the Jakarta Post.
“We’re here to stay. We have no plan to withdraw investments from the country.
“We are even going to release three new models in Indonesia next year, one of which will be released no later than the first quarter of 2009,” he said.
A new plant will start to be constructed next year, he said, although no exact timing was given.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataAt present, GM cars sold in Indonesia are imported from plants in Thailand and Korea.
GM’s Indonesia head also said that next year’s sales in Indonesia will likely drop by 30%, in line with a decline in the whole automotive industry.
“Eighty percent of Indonesian customers’ financing comes from credit loans and the down payments will rise to an average 40 percent of the price. This surely will slow down car purchases.”
