Latest news with #Gaikindo
Yahoo
19-05-2025
- Automotive
- Yahoo
Indonesian vehicle sales rise 5% in April
New vehicle sales in Indonesia rose by 5% to 51,205 units in April 2025 from 48,764 units in the same month last year, according to wholesale data compiled by the local automotive industry association Gaikindo. The market last month bounced back from very weak year-earlier volumes, when sales dropped by 17% from peak post-pandemic levels in the previous year. Market sentiment has weakened significantly in the last year, with fewer consumers committing to large purchases, while companies also face growing uncertainty regarding international trade following the recent import tariff hikes in the US. GDP growth slowed slightly to 4.9% year-on-year in the first quarter of 2025, compared with 5.0% growth in the previous quarter, with domestic consumption and exports both slightly weaker. Bank Indonesia last cut its benchmark interest rate in February, by 25 basis points to 5.75% - the second such cut since the peak level of 6.25% last August. Since then, the central bank has focused more on supporting the weak rupiah. In the first four months of 2025, the vehicle market shrank by 3% year-on-year to 256,368 units after plunging by 23% from 263,706 units in the same period last year, with sales of passenger vehicles falling by just over 2% to 202,724 units while commercial vehicle sales were down by almost 5% to 53,644 units. Toyota's sales increased by 5% to 85,032 units in the first four months of the year, helped by strong demand for models such as the recently-launched Hilux Rangga and the Innova MPV, while other Japanese automakers have come under strong pressure from the growing presence of Chinese brands - which are driving up demand for battery electric vehicles (BEVs) in the country. Daihatsu's sales plunged by 21% to 43,883 units; followed by Honda with 25,336 units (-22%); Mitsubishi 21,272 units (-8%); and Suzuki 18,319 units (-20%). Sales of battery electric vehicles (BEVs) surged almost threefold to 23,950 units year-on-year in the first four months of the year, with BYD and its Denza brand combined accounting for 12,560 units, followed by SAIC-GM-Wuling 3,690 units and Chery Automobile 3,440 units. Overall vehicle production in the country was flat at 368,468 units year-to-date, while exports of fully-assembled vehicles increased by over 4% to 144,796 units. "Indonesian vehicle sales rise 5% in April" was originally created and published by Just Auto, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Yahoo
22-04-2025
- Automotive
- Yahoo
Indonesian vehicle sales drop 5% in March
New vehicle sales in Indonesia declined by 5% to 70,892 units in March 2025 from 74,720 units in the same month last year, according to wholesale data compiled by the local automotive industry association Gaikindo. The market last month came up against already weak year-earlier volumes, when sales dropped by 24% from peak post-pandemic levels. Market sentiment has weakened significantly in the last year, with fewer consumers committing to large purchases, while companies also face growing uncertainty with regard to international trade following the recent import tariff hikes in the US. Bank Indonesia has reduced its benchmark interest rate by 50 basis points to 5.75% from peak levels in August 2024, with the latest 25 basis-point cut made in January to help offset the hike in the VAT rate from 11% to 12% at the beginning of the year. The recent rupiah weakness against the US dollar and other major currencies means that further interest rate cuts are unlikely in the coming months. In the first quarter of 2025 the country's vehicle market shrank by 4.6% to 205,160 units from 215,069 units in the same period last year, with sales of passenger vehicles falling by almost 5% to 162,388 units while commercial vehicle sales fell by over 4% to 42,772 units. Toyota's sales increased by 5% to 68,955 units year-to-date, helped by strong demand for models such as the recently-launched Hilux Rangga and the Innova MPV, while other Japanese brands have come under strong pressure from the growing presence of Chinese brands - which are driving up demand for battery electric vehicles (BEVs) in the country. Daihatsu's first-quarter sales plunged by 24% to 34,999 units; followed by Honda with 22,336 units (-20%); Mitsubishi 17,481 units (-8%); and Suzuki 14,174 units (-20%). Sales of battery electric vehicles (BEVs) surged almost threefold to 16,770 units year-on-year in the first quarter, with BYD accounting for 5,718 of these, SAIC-GM-Wuling 2,806 units and Chery Automobile 2,520 units. Overall vehicle production in the country fell by just over 2% to 288,012 units in the first quarter, while exports of fully-assembled vehicles increased by 2% to 110,133 units. "Indonesian vehicle sales drop 5% in March" was originally created and published by Just Auto, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Yahoo
17-03-2025
- Automotive
- Yahoo
Indonesian vehicle sales rise 2% in February
New vehicle sales in Indonesia increased by 2% to 72,295 units in February 2025 from 70,772 units in the same month of last year, according to wholesale data compiled by the local automotive industry association Gaikindo. The market last month came up against weak year-earlier volumes, when sales dropped by 19% from peak post-pandemic levels – and also due to fewer working days during the month. Market sentiment has weakened significantly over the last year, with fewer consumers committing to large purchases, resulting in a 14% sales decline to 865,723 units in 2024. The latest government data shows the country's economy expanded by just over 5.0% year-on-year in the fourth quarter of 2024, marginally better than in the previous quarter, supported by a slight improvement in private consumption while government spending and fixed investment growth slowed. Bank Indonesia cut its benchmark interest rate by a further 25 basis points to 5.75% in January to help support domestic consumption, following a hike in the VAT rate from 11% to 12% at the beginning of the year. In the first two months of 2025 the vehicle market declined by 4.5% to 134,227 units from 140,530 units in the same period of last year, with sales of passenger vehicles falling by 7% to 104,835 units while commercial vehicle sales rose by almost 5% to 29,392 units. Toyota's sales increased by 4% to 46,479 units year-to-date, followed by Daihatsu with a 25% drop to 21,942 units; Honda with 16,033 units (-8%); Mitsubishi 11,712 units (-10%); and Suzuki 9,732 units (-13%). Sales of battery electric vehicles (BEVs) more than doubled to 7,569 in the two-month period, with Chinese brands dominating this segment. BYD sold 3,450 units, helped by the recent launch of the Denza D9 model, followed by Chery Automobile with 1,372 units and SAIC-GM-Wuling with 1,362 units. Overall vehicle production in the country fell by 6% to 204,965 units in January and February, while exports of fully-assembled vehicles increased by 3% to 70,212 units. "Indonesian vehicle sales rise 2% in February" was originally created and published by Just Auto, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Yahoo
13-02-2025
- Automotive
- Yahoo
Indonesian vehicle sales fall 11% in January
New vehicle sales in Indonesia declined by over 11% to 61,843 units in January 2025 from 69,619 units in the same month of last year, according to wholesale data compiled by local automotive industry association Gaikindo. The market last month came up against already weak year-earlier volumes, when sales dropped by 29% year-on-year, after the strong rebound from the pandemic lows fizzled out in 2023. Market sentiment has weakened significantly over the last year, with fewer consumers committing to large purchases, resulting in an overall 14% decline in total vehicle sales to 865,723 units in 2024. The country's economy expanded by just over 5.0% year-on-year in the fourth quarter of 2024, marginally better than in the previous quarter, supported by a slight improvement in private consumption while government spending and fixed investment growth slowed. Bank Indonesia cut its benchmark interest rate by a further 25 basis points to 5.75% in January to help support domestic consumption, following a hike in the VAT rate from 11% to 12% at the beginning of the year. Sales of passenger vehicles declined by 14% to 48,157 units in January, with volumes also affected by more public holidays last month compared with last year, while commercial vehicle sales were unchanged at 13,686 units. Battery electric vehicle sales amounted to 2,429 units. Toyota's sales increased by 5% to 22,082 units last month, followed by Daihatsu with a 30% drop to 9,983 units; Honda with 7,276 units (-14%); Mitsubishi 5,028 units (-28); and Suzuki 4,982 units (-19%). Overall vehicle production in the country fell by 8% to 92,792 units in January, while exports of fully-assembled vehicles increased by 15% to 33,891 units. "Indonesian vehicle sales fall 11% in January" was originally created and published by Just Auto, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
