New vehicle sales in Indonesia continued to plunge in August 2020, by almost 48% to 48,554 units from 92,874 in the same month of last year, according to member wholesale data compiled by industry association Gaikindo.
The global COVID-19 pandemic has taken a heavy toll on the economy, both in terms of domestic consumption, investment and exports. GDP was expected to have been negative in the third quarter, reflecting ongoing social and business restrictions across the country, after shrinking by 5.3% in the second quarter.
Go deeper with GlobalData
The capital city Jakarta remained under semi lockdown orders, which continued to hurt consumer and business sentiment, while international travel restrictions continued to affect the country's hospitality and tourism sectors.
Vehicle sales in the first nine months of 2020 were down by almost 51% at 372,046 units compared with 753,954 a year ago with deliveries falling by over 59% in the third quarter after an almost 90% drop in the second quarter.
Sales of passenger vehicles fell by almost 52% to 278,240 units year to date while sales of trucks and buses were down by over 47% at 93,806 units.
Toyota reported an almost 55% decline in wholesale volume to 110,863 units in the nine month period, followed by Daihatsu with a 48% drop to 69,182 units, Honda 49,688 units (-49%), Suzuki 44,902 units (-37%), and Mitsubishi Motors 38,934 units (-58%).
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
