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November 19, 2018

Indonesia sales rise 12% in October

New vehicle sales in Indonesia continued to grow in October, by 12.3% year on year to 106,050 units from 94,433, according to wholesale data compiled by industry association Gaikindo.

By bcusack

New vehicle sales in Indonesia continued to grow in October, by 12.3% year on year to 106,050 units from 94,433, according to wholesale data compiled by industry association Gaikindo.

Third quarter GDP growth came in at just under 5.2%, slightly slower than Q2's 5.3%, underpinned by strong fixed investment and government spending growth. Household consumption growth slowed slightly, reflecting a series of interest rate hikes by the central bank which lifted its benchmark rate to 6% in November from 4.25% in April.

The vehicle market has performed remarkably well considering the economic headwinds, with cumulative 10 month sales rising by 7.2% to 962,697 units compared with 898,245 a year ago.

The commercial vehicle segment expanded by almost 19% to 229,804 units in this period, having benefited from continued investment in infrastructure and construction projects and higher international trade. 

Passenger vehicle sales were up 4% to 732,893 units, helped by the introduction of popular new models over the last year or so.

Toyota's sales over the 10 month period declined by 7.9% to 293,519 units, reflecting mainly rising competition in the MPV segment, while Daihatsu was moderately better in second place with sales rising by 7.4% to 168,539.

Honda posted the sharpest decline among the major brands in this period as its sales fell 14.5% to 133,231 units while Mitsubishi Motors almost doubled volume to 123,826 units – reflecting strong demand for its Xpander compact MPV which was introduced just over a year ago.

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