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National car sales lag last year’s record: Gaikindo
The latest data from Gaikindo reveal that this year’s national car sales remain significantly behind the 2022 record, reaching 836,049 as of October.
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Chinese automobile manufacturer Great Wall Motor (GWM) displays the new compact electric vehicle “ORA Good Cat 03“ during the 30th Gaikindo Indonesia International Auto Show (GIIAS) at the Indonesia Convention Exhibition (ICE) in Tangerang, Banten, on Aug. 10, 2023. (AFP/Yasuyoshi Chiba)
N
ational car sales remain sluggish, falling behind the sales record of 2022, according to the latest data from the Association of Indonesian Automotive Manufacturers (Gaikindo).
Throughout 2022, national car sales surpassed 90,000 units per month. In contrast, this year has only seen one month, January, exceeding this threshold.
In October, car sales edged up by 352 units to 80,271 units. This figure represents a 13.86 percent decline compared with October 2022, when sales reached 93,194 units. It also marked the third-lowest monthly sales of the year, after May and September.
Overall, wholesale car sales for the January-October period declined by 1.8 percent compared with the same period in 2022, dropping to 836,049 units. However, retail sales (dealer to customer) saw a modest 0.4 percent year-on-year growth to 825,691 units in January-October 2023.
Gaikindo secretary-general Kukuh Kumara attributed the slowdown in Indonesia’s automotive industry to a combination of global economic factors, including the United States Federal Reserve’s interest rate hikes, which weakened the rupiah against the dollar.
“The US policies have a multiplier effect everywhere, including the national automotive performance,” Kukuh said on Monday.
Gaikindo executive Jongkie Sugiarto also pointed to the sluggish national economic growth, which hovered below 5 percent in the most recent quarter, as another factor contributing to the decline in car sales.
