Domestic Car Sales Begin to Recover in August 2024

According to data from the Indonesian Automotive Manufacturers Association (Gaikindo), domestic wholesale car sales reached 76,304 units in August 2024. This figure is the highest in the last eight months.

August 2024 sales volume increased by 2.8% month-to-month (mtm) from July 2024, which recorded 74,229 wholesale units. However, compared to August last year, the figure decreased by 14.2% year-on-year (yoy).

Cumulatively, domestic wholesale car sales from January to August 2024 totaled 560,619 units. This is a 17% decrease compared to the same period last year (cumulative-to-cumulative/ctc), which reached 675,859 units.

Although monthly domestic car sales are starting to show an increase, automotive expert and ITB academician Yannes Martinus Pasaribu predicts that Gaikindo's sales target of 1.1 million units this year will be difficult to achieve.

"Despite some positive factors, the 1 million unit sales target seems likely to be missed," said Yannes, as reported by CNN Indonesia on Tuesday (September 10, 2024).

He stated that achieving the target requires an average monthly sales of around 110,000 units in the last four months. However, domestic economic conditions have not fully recovered, and consumer purchasing power remains under pressure.

In August 2024, Toyota remained the best-selling car manufacturer in Indonesia with wholesale sales of 25,989 units.

This was followed by Daihatsu and Honda, which recorded wholesale sales of 13,829 units and 7,556 units, respectively.