New vehicle sales in Indonesia continued to fall in February, by over 13% to 81,684 units from 94,260 units a year earlier, according to wholesale data compiled by industry association Gaikindo.
This follows a 15% year-on-year decline in January, resulting in a 14% fall to 163,675 units in the first two months of the year from 190,240 units in the same period of 2018.
Go deeper with GlobalData
The market was driven lower by an almost 17% fall in passenger vehicle sales to 119,425 units year-to-date from 143,178 units a year earlier, reflecting a sharp decline in 4×2 non-sedan passenger vehicles, while commercial vehicle sales fell by 6% to 44,250 units from 47,062 units.
A total of 48,541 vehicles were sold under the Toyota brand in the first two months of the year, down by 8.5% year-on-year, while Daihatsu sales fell by 9.8% to 31,074 units; Mitsubishi Motors 22,416 units (-18.1%); Honda 20,701 units (-18.7%); and Suzuki 16,578 units (-26.7%).
The latest economic data shows GDP growth remained in a narrow range at just below 5.2% in the fourth quarter of 2018, with full year growth also at just under 5.2%. This was slightly higher than 5.1% in the previous year. Growth last year was underpinned increasingly by private consumption despite six successive interest rate hikes by the central bank which lifted its benchmark rate to 6.0% from 4.25% last year.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
