Sales of new motorcycles in Indonesia rose 23% to 2.81 million units in 2003 thanks to lower interest rates, car assemblers’ association Gaikindo said on Tuesday, according to Dow Jones.
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Market leader PT Astra International reportedly said it sold 1.577 million motorcycles last year, up 9.7% from 1.437 million in 2002.
According to the report, Astra, which makes and sells Honda motorcycles with Japan’s Honda Motor, said its Honda motorcycle sales rose 9.1% to 1.423 million units by the end of 2003 from 1.304 million a year earlier.
Cycle & Carriage Ltd. of Singapore holds a 35% stake in Astra International, Dow Jones noted.
