New vehicle sales in Indonesia fell by 12% to 91,268 units in November, compared with 103,703 sales a year earlier, according to data released by the Gaikindo automotive industry association.
The weakening market reflects growing uncertainty on the prospects for the domestic economy following last month’s fuel price and interest rate hikes and the continued depreciation of the rupiah against the US dollar.
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Sales in the first 11 months of the year were up by just 1.2% at 1,129,564 units, from 1,116,230 units previously. Sales of low-cost green cars (LCGCs), which were released into market in the third quarter of last year, reached 159,905 units year to date compared with 36,916 units in the year-earlier period.
Sales of other types of vehicles were lower, with commercial vehicle sales falling by 6.6% to 302,458 units and sales of conventional light passenger vehicles falling by 11.9% to 667,201 units.
The Toyota brand led the market in the first 11 months of the year with 372,000 deliveries to dealers, to claim a market share of 32.9%. Daihatsu sold 172,100 units (15.2%); Honda 154,100 (13.6%); and Suzuki 144,900 (12.8%).
The association recently raised concerns about rising dealer inventories in recent months, which is forcing them into heavy discounting. Full year sales are likely to fall short of last year’s levels, by just under 1% at 1.22m units.
