The Indonesian new vehicle market deteriorated further in April 2019 as sales plunged by over 17.8% to 84,029 units from 102,258 units a year earlier, according to wholesale data compiled by industry association Gaikindo.
This followed a weak first quarter, when sales fell by 13%, reflecting sluggish economic growth amid weaker investment and private consumption growth and declining exports. Uncertainty ahead of last month's presidential and parliamentary elections also contributed to the market weakness.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
Vehicle sales in the first four months of the year were down 14.3% to 337,892 units from 394,422 units in the same period of last year, driven lower by a more than 13% drop in passenger vehicle sales to 260,516 units and an 18% fall in commercial vehicle sales to 77,376 units.
Toyota sold 106,690 vehicles in the first four months of the year, down 6.3% year on year, while Daihatsu sales fell by 5.2% to 66,825 units; Mitsubishi Motors' reached 43,412 units (-19.5%); Honda 40,476 units (-24.0%); and Suzuki 30,546 units (-25.2%).
