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With Government Incentives, Electric Vehicle Sales Increased in April 2023

Adi Ahdiat 20/05/2023 10:20 WIB

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Following the introduction of incentives, wholesale sales volume of battery electric vehicles (BEVs) in Indonesia reached 1,285 units in April 2023, a 15% increase compared to March 2023.

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

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With Government Incentives, Electric Vehicle Sales Increased in April 2023

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

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According to data from the Indonesian Automotive Industry Association (Gaikindo), throughout April 2023, wholesale sales of battery electric vehicles (BEVs) in the domestic market reached 1,285 units.

This figure increased by 15% compared to March 2023 (month-on-month/mom), and even surged by 1,197% compared to April 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 electric vehicles (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.

Sales of these two electric vehicle brands have indeed increased.

In April 2023, wholesale sales of the Hyundai Ioniq 5 Signature Extended rose by 11.6% (mom) to 625 units, making it the best-selling BEV.

Meanwhile, the Wuling Air EV Long Range, the second best-selling BEV in April 2023, saw its wholesale sales grow by 7.4% (mom) to 450 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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With Government Incentives, Electric Vehicle Sales Increased in April 2023

With Government Incentives, Electric Vehicle Sales Increased in April 2023

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