Indonesia's new vehicle market continued to decline sharply in December 2020, by almost 35% to 57,129 units from already weak year-earlier sales of 87,664, according to member wholesale data compiled by industry association Gaikindo.
Indonesia was one of the countries in Asia worst affected by the global COVID-19 pandemic, with domestic consumption, investment and exports weakening significantly last year. GDP declined 3.5% in the third quarter after shrinking 5.3% in the second quarter, and continued social and business restrictions pointed to a further decline in economic activity in the fourth quarter of last year.
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Total vehicle sales plunged by over 48% to 532,027 units in 2020 from 1,030,126 units in 2019. Fourth-quarter volumes were down by almost 42% year-on-year, following 59% decline in the third quarter and an almost 90% drop in the second quarter.
Sales of passenger vehicles were down by over 50% at 388,886 units last year while sales of trucks and buses fell by over 41% at 143,141 units.
Toyota reported a more than 51% decline in wholesale volume to 161,256 units in 2020; followed by Daihatsu with a 49% fall to 90,724; Honda 73,315 (-47%); Suzuki 66,130 (-34%); and Mitsubishi Motors 57,906 (-51%).
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