New vehicle sales in Indonesia increased by 3.5% to 87,846 units in December 2018 compared with 84,880 units in the same month of the previous year, according to wholesale data compiled by industry association Gaikindo.
The vehicle market remained positive throughout the second half of last year, despite a slight slowdown in household consumption growth following a series of interest rate hikes by the central bank and significant currency weakness.GDP growth remained within a narrow range in the third quarter, at 5.2%, underpinned by higher government spending and fixed investment.
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Full-year vehicle sales increased by 6.6% to 1,151,291 last year compared with 1,079,534 units in 2017, boosted by an almost 18% rise in commercial vehicle sales to 276,631 units from 235,310 units in the previous year – driven by continued strong investment in infrastructure and private construction projects. Passenger vehicle sales were up by just 3.6% at 874,660 units from 844,224 units.
Toyota's sales declined by 5.2% to 352,161 units in 2018, mainly reflecting rising competition in the MPV segment which it dominates, while Daihatsu was moderately better off in second place with sales rising by 8.8% to 202,738 units.
Honda posted the sharpest decline among the major brands, with sales falling by over 13% to 162,170units last year, while Mitsubishi Motors' sales were up by 79% at 142,861 units- reflecting strong demand for its Xpander compact MPV which was introduced in July 2017.
