Indonesia's new vehicle market continued to decline sharply in November 2020, by 41% to 53,844 units from already weak year-earlier sales of 91,240 units according to member wholesale data compiled by industry association Gaikindo.
Indonesia is one of the countries in the region worst affected by the global COVID-19 pandemic, with domestic consumption, investment and exports having weakened significantly due to weak demand. GDP declined by 3.5% in the third quarter, as social and business restrictions continued to be applied in many parts of the country, after shrinking by 5.3% in the second quarter.
The vehicle market in the first eleven months of 2020 was down by almost 50% at 474,910 units compared with 940,362 units in the same period of last year, after sales fell by over 59% in the third quarter and by almost 90% in the second quarter.
Sales of passenger vehicles were down by almost 52% at 348,541 units year-to-date, while sales of trucks and buses dropped by over 42% at 126,369 units.
Toyota reported a more than 53% year-on-year decline in wholesale volumes to 142,569 units in the eleven-month period; followed by Daihatsu with a49% drop to 84,243 units; Honda 65,868 units (-47%); Suzuki 58,262 units (-35%); and Mitsubishi Motors 59,942 (-45%).