Domestic Car Sales Slump Throughout 2023, Failing to Exceed Target

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Cindy Mutia Annur 16/01/2024 20:18 WIB

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Wholesale car sales in the domestic market in 2023 also failed to reach the Gaikindo target of 1.05 million units for the entire year.

Annual Wholesale Car Sales Volume in the Domestic Market (2013-2023)

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Annual Wholesale Car Sales Volume in the Domestic Market (2013-2023)

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The Indonesian Automotive Industry Association (Gaikindo) reported that domestic wholesale car sales reached 1,005,802 units in 2023. This figure is down 4.04% year-on-year (yoy) compared to 1,048,040 units in 2022.

Domestic wholesale car sales in 2023 fell short of Gaikindo's target of 1.05 million units.

Gaikindo's First Chairman, Jongkie D. Sugiarto, stated that the failure to meet the target for four-wheeled vehicle sales was due to a slowdown in the automotive market in the second half of 2023.

Jongkie attributed this slowdown to several factors, including an increase in Bank Indonesia's interest rates and slower economic growth. "As a result, sales of motor vehicles also slowed," said Jongkie, as reported by Bisnis.com on Wednesday (January 10, 2023).

Domestic wholesale car sales in 2023 also failed to surpass pre-pandemic levels. In 2019, domestic wholesale car sales reached 1,030,126 units.

Wholesale car sales in 2022, however, exceeded pre-pandemic levels, as shown in the graph above.

Despite this, the trend of domestic wholesale car sales has been upward compared to the beginning of the pandemic. In 2020, domestic four-wheeled vehicle sales plummeted to 532,027 units.

The trend of domestic wholesale car sales has been fluctuating over the past decade. Sales peaked in 2013 and reached their lowest point in 2020.

Throughout 2023, Toyota remained the largest contributor to domestic car sales with wholesale sales of 336,777 units. Daihatsu and Honda followed with wholesale sales of 188,000 units and 138,967 units, respectively.

Suzuki ranked fourth with wholesale sales of 81,057 units, followed by Mitsubishi Motors in fifth place with wholesale sales of 77,416 units.

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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Domestic Car Sales Slump Throughout 2023, Failing to Exceed Target

Domestic Car Sales Slump Throughout 2023, Failing to Exceed Target

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Domestic Car Sales Slump Throughout 2023, Failing to Exceed Target

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