The Indonesian new vehicle market expanded by 7.8% to 111,785 units in November, from 103,703 units in the same month of last year, according to data released by industry association Gaikindo.
The continued growth comes despite toughening market conditions, following a series of interest rate hikes by Bank of Indonesia in the last several months, the rupiah dropping by around 20% against the US dollar, slowing economic growth and sharp price hikes by vehicle manufacturers.
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The launch of new low-cost green cars (LCGC) by Toyota, Daihatsu and Honda since September has helped to support overall market volumes, however.
Cumulative vehicle sales for the 11-month period were 10.3% higher at 1,132,174 units, from 1,026,774 units in the same period of last year.
Light passenger vehicle sales increased by 12.8% to 809,829 units, from 718,063 units a year earlier, while commercial vehicle sales were up by just 4.4% at 322,345 units. LCGC sales in the September-November three-month period amounted to 36,916 units.
Indonesian vehicle manufacturers exported 155,711 built-up (CBU) vehicles and a further 97,615 complete and semi knocked down vehicle kits over the 11-month period, while CBU imports amounted to 146,765 units.
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