Indonesia’s vehicle sales are estimated to have risen by 29% year-on-year in May to 49,500 units. The rise is in spite of a government decision to increase fuel prices by 30% last month.
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Jodjana Jody, head of sales at Toyota Astra Motor, told Reuters that Toyota sold 17,522 units last month, up 32.9% from the same month in 2007.
Toyota Astra Motor, owned by PT Astra International Tbk , the largest automotive distributor in the country, is the distributor of Toyota cars in Indonesia.
Overall vehicle sales in the first four months of 2008 rose by nearly 60%, helped by lower interest rates.
Reuters noted that some analysts and industry experts have said that they still expect this year’s vehicle sales to top 500,000 units, compared to 434,449 units in 2007, even after the hike in subsidised fuel prices.
Indonesia’s automotive trade body – Gaikindo – has forecast that national vehicle sales should increase to more than 500,000 units this year.
