New vehicle sales in Indonesia fell by over 20% to 88,738 units in February, from 111,765 units in the same month of last year, according to data gathered by industry association Gaikindo.
Sales in the first two months of the year fell by 15% to 182,933 units, from 215,262 units a year earlier. This reflected a slowdown in economic growth over the last year, after Bank Indonesia hiked its benchmark interest rate to 7.5% in the second half of 2013.
Go deeper with GlobalData
All segments of the market are struggling including the new, low cost green car segment which propped up the market for most of last year.
