Domestic Car Sales Rise to 74,000 Units in March 2024

Transportation & Logistics

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Nabilah Muhamad 16/04/2024 13:43 WIB

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Gaikindo reported that domestic wholesale car sales reached 74,724 units in March 2024.

Monthly Wholesale Car Sales Volume in the Domestic Market (January 2023-March 2024)

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Domestic Car Sales Rise to 74,000 Units in March 2024

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Monthly Wholesale Car Sales Volume in the Domestic Market (January 2023-March 2024)

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Based on a report from the Indonesian Automotive Industry Association (Gaikindo), domestic wholesale car sales totaled 74,724 units in March 2024.

This figure represents a 5.7% increase month-on-month (MoM) compared to February's sales of 70,698 units.

However, year-on-year (YoY), March 2024 wholesale car sales slumped by 26.21% compared to March 2023, which reached 101,272 units.

Cumulatively, domestic wholesale car sales from January to March 2024 amounted to 215,069 units. This volume also plummeted by 16.83% compared to the cumulative sales from January to March 2023 (cumulative-to-cumulative/CTC), which reached 258,601 units.

Gaikindo Chairman I, Jongkie Sugiarto, explained that the negative performance of the national automotive industry is influenced by the yet-to-recover consumer purchasing power due to unstable economic growth.

He also noted consumer hesitation to buy new cars amid high benchmark interest rates and the weakening of the Indonesian Rupiah against the US dollar.

"Lately, consumers also require a longer time for motor vehicle loan or leasing approvals, thus affecting demand," said Jongkie in a statement, as reported by Kontan on Monday, April 15, 2024.

Of the total car sales last month, Toyota still dominated with 21,142 wholesale units.

It was followed by Daihatsu and Honda, which both recorded wholesale sales of 16,552 units and 10,572 units, respectively, in March 2024.

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 Rise to 74,000 Units in March 2024

Domestic Car Sales Rise to 74,000 Units in March 2024

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Domestic Car Sales Rise to 74,000 Units in March 2024

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