Electric Vehicle Sales Surge in Q1 2023

Transportation & Logistics

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Adi Ahdiat 18/04/2023 12:50 WIB

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In the first quarter of 2023, wholesale sales volume of Battery Electric Vehicles (BEVs) in Indonesia reached 1,800 units, a surge of approximately 2,700% compared to the first quarter of last year.

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

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Electric Vehicle Sales Surge in Q1 2023

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

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Sales of battery electric vehicles (BEVs) have significantly strengthened in the first quarter of this year.

According to data from the Indonesian Automotive Manufacturers Association (Gaikindo), wholesale sales of BEVs in the domestic market totaled only 64 units from January to March 2022.

However, in the January-March 2023 period, sales reached 1,800 units, an increase of approximately 2,700% compared to the first quarter of last year.

The best-selling BEV in Indonesia during Q1 2023 was the Hyundai Ioniq 5 Signature Extended, with wholesale sales of 886 units.

This figure surpasses the wholesale achievement of the Wuling Air EV Long Range, which was the market leader in 2022.

Sales of electric vehicles in Indonesia are likely to continue to increase in the near future.

Starting this year, the government is providing incentives in the form of a Value Added Tax (VAT) borne by the government (PPN DTP) for the purchase of four-wheeled electric vehicles and buses. This has been stipulated through Minister of Finance Regulation Number 38 of 2023.

Starting April 1, 2023, the government implemented a 10% VAT reduction for the purchase of electric cars. This means buyers are only charged a remaining VAT of 1%.

However, the incentive is only given for the purchase of battery-based electric vehicles or BEVs, with a Domestic Component Level (TKDN) of over 40%. Currently, the electric vehicles that meet these criteria are the Wuling Air EV and Hyundai Ioniq 5.

On the other hand, electric buses can still receive incentives even if their TKDN is lower. Electric buses with a TKDN in the range of 20%-40% can receive a 5% VAT discount. This means the remaining tax payable by the buyer is only 6%.

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."