Indonesia's Monthly Domestic Car Sales Increased by 46.52% in May 2024

Transportation & Logistics

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Nabilah Muhamad 13/06/2024 10:07 WIB

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According to Gaikindo data, wholesale sales of automobiles in the domestic market totaled 71,263 units in May 2024. Volume decreased by 12.29% year-on-year.

Monthly Wholesale Sales Volume of Passenger Cars in the Domestic Market (January 2023-May 2024)

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Indonesia's Monthly Domestic Car Sales Increased by 46.52% in May 2024

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Monthly Wholesale Sales Volume of Passenger Cars in the Domestic Market (January 2023-May 2024)

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According to data from the Indonesian Automotive Manufacturers Association (Gaikindo), domestic wholesale car sales in Indonesia totaled 71,263 units in May 2024.

Volume increased by 46.52% month-on-month (MoM) compared to the previous month, which recorded sales of 48,637 units.

However, year-on-year (YoY), wholesale car performance last month slumped by 12.29% compared to May 2023, which reached 82,189 units.

Cumulatively, the volume of wholesale car sales in the domestic market from January to May 2024 reached 334,969 units. This figure also decreased by 20.95% compared to the same period last year (cumulative-to-cumulative/CTC), which amounted to 423,771 units.

Gaikindo's First Chairman, Jongkie Sugiarto, stated that the decline in car sales is in line with low consumer demand.

Bank Indonesia's benchmark interest rate is still at a high level of 6.25%. This is considered to affect the interest rate on motor vehicle financing credit. Nevertheless, Gaikindo hopes that car sales will soon recover.

"The projection for 2024 (sales target) is still 1.1 million units, but adjustments may be made at any time," said Jongkie in his statement, as reported by Kontan on Monday (June 10, 2024).

Until May 2024, Toyota remained the best-selling car manufacturer in Indonesia with wholesale sales of 23,482 units.

This was followed by Daihatsu and Honda, which recorded wholesale sales of 14,983 units and 7,294 units, respectively.

Editor : Erlina Fury Santika

"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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Indonesia's Monthly Domestic Car Sales Increased by 46.52% in May 2024

Indonesia's Monthly Domestic Car Sales Increased by 46.52% in May 2024

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Indonesia's Monthly Domestic Car Sales Increased by 46.52% in May 2024

Indonesia's Monthly Domestic Car Sales Increased by 46.52% in May 2024

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