Electric Vehicle Sales Rise Again in May 2023 Following Incentives

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Adi Ahdiat 20/06/2023 13:24 WIB

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According to Gaikindo data, in May 2023, wholesale sales volume of battery electric vehicles (BEVs) in the domestic market reached 1,560 units, a 21% increase compared to the previous month.

Monthly Wholesale Sales Volume of Battery Electric Vehicles (BEVs) in Indonesia (January 2022-May 2023)

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Monthly Wholesale Sales Volume of Battery Electric Vehicles (BEVs) in Indonesia (January 2022-May 2023)

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According to data from the Indonesian Automotive Industry Association (Gaikindo), in May 2023, wholesale sales of battery electric vehicles (BEVs) in the domestic market reached 1,560 units.

This figure increased by 21% compared to April 2023 (month-on-month/mom), and even surged by 680% compared to May last year (year-on-year/yoy).

This increase occurred following the implementation of an incentive policy in the form of a Value Added Tax (VAT) borne by the government (PPN DTP) for electric vehicle consumers.

Starting April 1, 2023, the government provided a 10% VAT reduction for electric vehicle purchases. This means buyers only pay a remaining VAT of 1%.

However, the incentive is only given for purchases of battery-based electric vehicles or BEVs with a Domestic Component Level (TKDN) of over 40%. Currently, the electric vehicles that meet these criteria are the Hyundai Ioniq 5 and the Wuling Air EV.

Wholesale sales of the Hyundai Ioniq 5 Signature Extended in May 2023 increased by 37% (mom) to 857 units, making it the best-selling BEV.

Meanwhile, wholesale sales of the Wuling Air EV Long Range, the second best-selling BEV in May 2023, decreased by 1% (mom) to 445 units.

Editor : Adi Ahdiat

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."

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Electric Vehicle Sales Rise Again in May 2023 Following Incentives

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