The Indonesian new vehicle market continued to decline sharply in May 2019, by 16.3% to 84,146 units from 100,498 units a year earlier, according to wholesale data compiled by industry association Gaikindo.
This follows a weak first four months of the year, when sales fell by over 14% – reflecting sluggish economic growth in the country amid weakening investment and private consumption growth and declining exports. Uncertainty ahead of April's presidential and parliamentary elections also contributed to the recent market weakness.
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Vehicle sales in the first five months of the year were down by 14.7% at 422,038 units from 494,920 units in the same period of last year, driven lower by a 14% drop in passenger vehicle sales to 327,276 units and a more than 17% drop in commercial vehicle sales to 94,762 units.
Toyota sold a total of 135,818 vehicles in the first five months of the year, down by 5.3% year-on-year, while Daihatsu's sales fell by 8.2% to 81,003 units; Mitsubishi Motors 52,640 units (-21.1%); Honda 51,524 units (-23.8%); and Suzuki 39,321 units (-26.6%).
