New vehicle sales in Indonesia were flat in December 2019 at 87,664 units compared with 87,846 units in the same month of the previous year, according to member wholesale data compiled by industry association Gaikindo.
Economic growth in the country remained sluggish throughout 2019 with GDP estimated to have expanded by just over 5% amid declining exports and sluggish household consumption.
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Bank Indonesia cut its overnight lending rate from 6% to 5% last year, reversing the previous year's tightening policy in order to help support domestic consumption.
The vehicle market in December was underpinned by strong year end promotional activity and discounting.
Full year sales declined by 10.5% to 1,030,126 units in 2019 from 1,151,291 in 2018, with passenger vehicle sales down by just over 10% at 785,539 units while commercial vehicle sales dropped by almost 12% to 244,587 units.
Toyota reported a 5.8% sales decline to 331,797 units last year while Daihatsu sales dropped by 12.6% to 177,284 units; Honda 137,339 units (-15.3%); Mitsubishi Motors 119,011 units (-16.7%); and Suzuki 100,383 units (-14.9%).
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