Domestic Car Sales Plunge 34.91% in April 2024

Based on a report from the Indonesian Automotive Industry Association (Gaikindo), domestic wholesale sales of cars in Indonesia totaled 48,637 units in April 2024.

Volume plummeted 34.91% month-on-month (MoM) compared to the previous month, which recorded sales of 74,724 units.

Similarly, year-on-year (YoY) wholesale sales performance in March 2024 also declined by 17.53%, down from 58,981 units the previous year.

Cumulatively, domestic wholesale car sales totaled 263,706 units from January to April 2024. This figure is also down 22.8% YoY from the same period last year, which recorded sales of 341,582 units.

Of the total car sales in April 2024, Toyota dominated with wholesale sales of 15,201 units. The Japanese automaker also controlled 31.25% of the domestic automotive market share last month.

Daihatsu and Suzuki followed, recording wholesale sales of 9,481 units and 4,986 units, respectively.

Meanwhile, Gaikindo's Secretary General, Kukuh Kuswara, believes that the upcoming Gaikindo Indonesia International Auto Show (GIIAS) in July 2024 will boost domestic car sales.

"While exhibitions are one way to boost sales, it's not the only way, as current economic issues are not only affecting Indonesia but also the global economy," Kukuh said in a statement, as reported by Bloomberg Technoz on Tuesday (14/5/2024).

He also noted a shift in consumer preference from multipurpose vehicles (MPVs) to sport utility vehicles (SUVs). "Indonesian consumers have traditionally favored MPVs, but there's now a shift towards SUVs, which remain very popular," said Kukuh.