Indonesia’s new vehicle market deteriorated significantly in April, with sales falling by 23.1% to 81,600 units from 106,124 units a year earlier, according to data released by industry association Gaikindo.
This is the steepest monthly decline since 2009, just after the global financial crisis. The country’s economic growth slowed to 4.7% in the first quarter of 2015, which was also the slowest growth since 2009 – on slow government spending, depressed commodity prices and declining exports.
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Cumulative four-month vehicle sales fell by 16.3% to 363,945 units, from 434,624 units in the same period of last year.
Toyota’s sales fell by over 24% to 115,900 units in the this period, followed by Daihatsu with a 10% decline to 60,200 units, while Honda sales increased by 12% to 55,100 units on strong demand for the Mobilio compact MPV and the newly launched HR-V.
