The Indonesian vehicle market expanded by 39.6% to a new monthly record of 73,761 units in January, from 52,831 units a year earlier, according to data released by the industry.
The market continues to grow on the back of a very strong domestic economy, with fourth-quarter 2010 GDP growth exceeding all expectations at 6.9%. Bank of Indonesia raised interest rates to 7% earlier this month to help combat rising inflation. It also raised its economic growth forecast for this year to between 6.0-6.5%, compared with 6.1% in 2010.
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Toyota continued to lead the market with 27,619 sales, up by 32.8% year-on-year; followed by Daihatsu with 12,920 units (+55.6%); Mitsubishi 10,673 (+55.7%); and Suzuki 6,630 (+37.7%).
