Post-Tax Discount, Domestic Car Sales Plunge 6.78% in October 2022

Transportation & Logistics

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Cindy Mutia Annur 18/11/2022 13:00 WIB

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Car sales in October 2022 slumped again after the luxury goods sales tax (PPnBM) government incentive program expired.

Wholesale Car Sales Volume in the Domestic Market (October 2021-October 2022)

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Wholesale Car Sales Volume in the Domestic Market (October 2021-October 2022)

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Domestic car sales slumped last month after hitting a record high since the start of the pandemic in September 2022.

According to the Indonesian Automotive Industry Association (Gaikindo), the volume of wholesale car sales in the domestic market reached 93,197 units in October 2022. This figure is down 6.78% compared to the previous month (month-on-month/mom), which amounted to 99,986 units.

This sales decline coincides with the expiration of the government-sponsored luxury goods sales tax (PPnBM-DTP). This means that car sales in October 2022, across all segments, no longer benefited from this tax discount.

However, compared to a year ago, the volume increased by 23.34% (year-on-year/yoy). In October 2021, domestic wholesale car sales totaled 75,555 units.

Cumulatively, during the January-October 2022 period, domestic wholesale car sales reached 851,413 units. This figure is close to the full-year achievement in 2021, which reached 887,202 units.

This achievement almost meets Gaikindo's annual target of 960,000 units by the end of 2022.

Toyota remains the largest contributor to car sales in the domestic market, with total wholesale sales of 33,740 units as of October 2022.

Following Toyota are Daihatsu with 17,489 units, Honda with 9,962 units, Suzuki with 7,663 units, and Mitsubishi Motors with 6,108 units.

Editor : Annissa Mutia

"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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Post-Tax Discount, Domestic Car Sales Plunge 6.78% in October 2022

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Post-Tax Discount, Domestic Car Sales Plunge 6.78% in October 2022

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