Domestic Car Sales Decline in November 2024

Transportation & Logistics

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Nabilah Muhamad 12/12/2024 11:52 WIB

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According to Gaikindo data, wholesale domestic car sales reached 74,347 units in November 2024, down from the previous month and the same month last year.

Monthly Wholesale Sales Volume of Domestic Passenger Cars (January 2020-November 2024)

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Monthly Wholesale Sales Volume of Domestic Passenger Cars (January 2020-November 2024)

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According to data from the Indonesian Automotive Industry Association (Gaikindo), domestic wholesale car sales reached 74,347 units in November 2024.

Volume decreased by 3.7% month-to-month (mtm) compared to October 2024, and plunged 11.9% year-on-year (yoy) compared to November of the previous year.

Cumulatively, domestic wholesale car sales from January to November 2024 reached 784,788 units.

This figure is down 14.7% cumulative-to-cumulative (ctc) compared to January-November 2023, which recorded 920,518 wholesale units.

"We expect car sales to reach 850,000 units by the end of 2024, as this figure has been revised from the previous target of 1.1 million units for this year," said Gaikindo Chairman Jongkie Sugiarto, as reported by Tempo.co on Monday (December 9, 2024).

Jongkie also mentioned that Gaikindo is concerned that next year's tax policies will further pressure the automotive industry.

"Indeed, next year there will be an increase in VAT, excise tax, minimum wage (UMP), and others. We predict it will be increasingly difficult to achieve good sales figures," he said.

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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Domestic Car Sales Decline in November 2024

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