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Domestic Car Sales Growth Slows in December 2023

Cindy Mutia Annur 16/01/2024 16:12 WIB

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The Indonesian Automotive Industry Association (Gaikindo)'s combined report shows that domestic wholesale car sales slowed down at the end of 2023.

Monthly Wholesale Sales Volume of Passenger Cars in the Domestic Market (January 2022-December 2023)

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Monthly Wholesale Sales Volume of Passenger Cars in the Domestic Market (January 2022-December 2023)

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Indonesia's Automotive Industry Association (Gaikindo) report shows that domestic wholesale car sales slowed down at the end of 2023.

Domestic wholesale car sales in December 2023 reached 85,284 units, only a 1.06% increase compared to the previous month (month-on-month/MoM).

Year-on-year (YoY), December 2023 wholesale car sales slumped 19.05% compared to December 2022, which totaled 105,354 units.

Cumulatively, domestic wholesale car sales from January to December 2023 reached 1,005,802 units. This figure is down 4.04% compared to January-December 2022 (cumulative-to-cumulative/CTC), which amounted to 1,048,040 units.

Domestic wholesale car sales failed to reach the 2023 target of 1.05 million units.

Gaikindo Chairman Jongkie D. Sugiarto stated that the failure to meet the target was due to a slowdown in the automotive market in the second half of 2023, also influenced by Bank Indonesia's interest rate hike and slowing economic growth.

"As a result, sales of motor vehicles also slowed down," said Jongkie, as reported by Bisnis.com on Wednesday (January 10, 2023).

Of the total national car sales throughout 2023, Toyota remained the largest contributor with 336,777 wholesale units.

It was followed by Daihatsu and Honda with wholesale sales of 188,000 and 138,967 units, respectively.

Suzuki ranked fourth with 81,057 wholesale units, and Mitsubishi Motors was fifth with 77,416 wholesale 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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