Indonesia’s new vehicle market showed no sign of stabilising in October 2020, with sales plunging by almost 49% to 49,043 units from 96,030 units 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 with domestic consumption, investment and exports having weakened significantly this year. GDP declined by 3.5% in the third quarter, with continued social and business restrictions across many parts of the country holding back recovery, after shrinking by 5.3% in the second quarter.
Go deeper with GlobalData
Vehicle sales in the first 10 months of 2020 were down by over 50% at 421,089 units compared with 849,609 units in the same period of last year, after deliveries fell by over 59% in the third quarter and by almost 90% drop in the second quarter.
Sales of passenger vehicles were down by almost 52% at 313,113 units year to date while sales of trucks and buses dropped by close to 46% at 107,976 units.
Toyota reported an almost 54% year on year decline in wholesale volume to 127,208 units in the 10-month period followed by Daihatsu with a 49% drop to 77,471 units, Honda 57,420 units (-49%), Suzuki 50,045 units (-38%) and Mitsubishi Motors 44,249 units (-59%).
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
