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January 18, 2016

Indonesia sales fall 7% in December

New vehicle sales in Indonesia fell by 7.0% to 73,300 units in December 2015, from 78,800 units in the same month of the previous year, according to industry sources quoting data compiled by local industry association Gaikindo.

New vehicle sales in Indonesia fell by 7% to 73,300 units in December 2015, from 78,800 units in the same month of the previous year, according to industry sources quoting data compiled by local industry association Gaikindo.

Full year sales fell by 16.1% to 1,013,300 units, from 1,208,000 units in 2014. 

Indonesia's economy continues to struggle with depressed commodity prices, weak exports and sluggish domestic consumption. Full year GDP growth is estimated at around 4.7% last year.

Last week Bank Indonesia cut its benchmark interest rate by 25 basis points to 7.25% to help underpin domestic consumption and confidence.

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