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July 19, 2019

Indonesia sales slightly higher in June

New vehicle sales in Indonesia rose by 1.2% to 59,539 units in June 2019 from 58,842 units a year earlier, according to local reports citing wholesale data compiled by industry association Gaikindo.

By bcusack

New vehicle sales in Indonesia rose by 1.2% to 59,539 units in June 2019 from 58,842 units a year earlier, according to local reports citing wholesale data compiled by industry association Gaikindo.

This was the first monthly increase so far this year after sales dropped by almost 15% in the first five months of the year, which many blame on political uncertainty in the lead up to the presidential and parliamentary elections in April. 

Economic growth has also been sluggish this year with GDP growth at just over 5%, reflecting weakening investment and private consumption growth and declining exports. 

New vehicle sales declined by just over 13% to 481,577 units in the first half of the year from 553,773 units in the same period of last year.

The Bank of Indonesia this week dropped its benchmark interest rate by 25 basis points to 5.75% to help stimulate domestic consumption.

Toyota sold 154,478 vehicles in the first six months of the year, down 4.3% year on year, while other available data showed Mitsubishi Motors shifted 64,608 units (-12.1%) and Honda 59,087 (-23.0%).  

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