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.
Go deeper with GlobalData
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%).
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
