New vehicle sales in Indonesia rose by over 17% to a record 893,420 units in 2011, from 763,751 units in 2010 earlier, according to industry association Gaikindo.

 The vehicle market has been driven higher by strong domestic economic growth with full-year GDP growth expected at 6.5%. Bank Indonesia reduced interest rates to a historic low of 6% in the fourth quarter of 2011 and this should help underpin demand even as global economic growth continues to slow. 

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The local industry weathered well the supply chain disruption caused by two major natural disasters in the region last year – the huge earthquake in Japan in March and the floods in Thailand in the fourth quarter. 

Toyota led the market with 313,967 sales, for a market share of 35.3%, followed by Daihatsu with 137,166 sales (15.4%), Mitsubishi/Fuso with 129,345 units (14.6%) and Suzuki with 90,579 units (10.1%).

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