Indonesian motorcycle dealer PT Mitra Pinasthika Mustika (MPN) is expanding into the car dealer business with plans to establish 50 Nissan and Datsun showrooms across the country by 2017.
The group recently established a new subsidiary, PT Mitra Pinasthika Mustika Auto (MPM Auto), to become Nissan’s second main dealer in the country. It plans to spend IDR175bn (US$14.6m) to develop its new dealer network.
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MPM raised IDR1.5 trillion ($125m) earlier this year from the sale of 27% of its equity through an IPO. The funds will be used to develop the dealer network, to provide funds for its in house finance and insurance operations and for working capital for its motorcycle business.
The group’s MPM Motor subsidiary sold 676,655 Honda two wheelers in the first nine of 2013, an increase of over 27% year on year.
MPM Auto plans to begin sales in mid-2014, to coincide with the official launch of the Datsun brand in the country. By the end of 2014, the company plans to have 14 Nissan-Datsun dealers in place, rising to 50 outlets by the end of 2017 – by which time it expects to sell 53,000 vehicles annually.
Nissan Motor sold 67,000 vehicles in Indonesia in 2012, equivalent to around 6% of the 1.12m vehicles sold in the country last year. Sales in the first 10 months of 2013 totalled 57,000 units.
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By GlobalData
