The Indonesia new vehicle market showed signs of stabilising in February, after sales fell by just 0.5% to 88,300 units from 88,740 units a year earlier, according to data collected by industry association Gaikindo.
New models such as the Honda BR-V and the Toyota Innova helped underpin the market last month, offsetting weak sales elsewhere – including the recently-launched Toyota Avanza.
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Sales in the first two months of the year were 5.2% lower at 173,300 units, compared with 182,934 units sold in the same period of last year, reflecting mainly weaker sales in January.
Economic growth remains sluggish in Indonesia although it picked up slightly in the final quarter of last year to just over 5% as a result of rising investment and higher government spending. Full-year growth was still a disappointing 4.7%.
The vehicle market declined for a second consecutive year in 2015, by 16.1% to 1.013m units from 1.208m units in the previous year. Gaikindo expects sales to rise by 5% in 2016 – based on a pick up in domestic economic growth and new models.
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