PT Toyota-Astra Motor, or TAM, said on Monday its car sales rose 33% to 107,480 in the first seven months of this year, compared with 80,891 in the same period last year, boosted by strong demand for new Kijang and Avanza vans, Dow Jones Newswires reported.
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“Our car sales breached 100,000 units during the period, garnering a 31.1% market share,” the company reportedly said in a press release.
In the January to July period, TAM sold 50,021 units of the Kijang Innova and 31,195 of the Toyota Avanza, acquiring a 40% market share in vans.
Dow Jones noted that Toyota owns 95% of the company and 5% is owned by Indonesia’s PT Astra International. Singapore’s motor-vehicle distributor Jardine Cycle & Carriage owns 50.09% of Astra.
The report said total new vehicle sales in Indonesia rose 30% on year between January and July to 345,167 units and noted that sales of cars have been rising over the past two years as interest rates remain at historical lows and banks look to boost consumer loans amid lacklustre corporate lending.
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By GlobalDataAnalysts, however, have warned that motor vehicles sales in the second half of this year may not be as strong as in the first half as interest rates start to pick up due to rising inflation, Dow Jones Newswires added.
