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The growth of the automotive industry and car ownership in Indonesia
Despite the global economic crisis showing no signs of going away, the automotive industry in Indonesia has experienced surprisingly positive growth.
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The growth of the automotive industry and car ownership in Indonesia (-/-)
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espite the global economic crisis showing no signs of going away, the automotive industry in Indonesia has experienced surprisingly positive growth. According to market research consultation firm Frost & Sullivan, Indonesia has one of the biggest automotive scenes in ASEAN after Thailand. They also predict that Indonesia will be the region's biggest automotive market by 2019.
Analysis by Association of Indonesian Automotive Manufacturers (Gaikindo) chief Jongkie D. Sugiarto suggests that domestic car sales could increase by 5 percent to 1.05 million units. This optimism is based on macro-economic indicators within the 2016 State Budget (APBN), specifically its economic growth target of 5.3 percent this year.
The rapid growth of the automotive industry in Indonesia has indirectly led to increased public knowledge about car and a rise in demand for car ownership. Different types of cars are in public demand. By category, they are:
- City Cars. They have compact designs, are fuel efficient and are useful for day-to-day activities.
- MPV (Multi-Purpose Vehicles). These vehicles are comfortable, appropriate for families and can accommodate to the needs of many passengers.
- SUV (Sports Utility Vehicles). They are a mix between sedans and jeeps that prioritize being able to traverse different terrains.
- Sedans. These types of vehicles are perfect for those who prioritize comfort in travel.
Accessories and comfort are also considered valuable and can help determine the value of a car. The more comfortable it is, the more diverse features it has, the better the safety features, the higher the value and price of the car.
These aspects are often packaged together by automotive producers in ways that attract buyers. They also add in light down-payments, long installment periods, bonus entertainment systems and service warranties that last several years.
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