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Car sales continue to decline in February
Domestic car sales were down 18.8 percent year-on-year in February despite a prominent car exhibition held in Jakarta last month.
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Workers load cars onto a truck for delivery at the Astra Daihatsu Motor (ADM) assembly plant in Karawang, West Java, in August 2016. (Antara Photo/Rivan Awal Lingga)
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omestic car sales continue to be in a downtrend with another annual decline logged in February that automotive industry representatives attribute to a sluggish economy but also to waning consumer interest.
Wholesalers sold 70,657 cars nationwide last month, marking an 18.8 percent decline year-on-year (yoy), according to data from the Indonesian Automotive Manufacturers Association (Gaikindo).
Retail sales also declined strongly in February, falling 16.3 percent yoy.
Gaikindo co-chairman Jongkie D. Sugiarto pointed to “slower economic growth” as a primary driver behind the lackluster domestic car sales performance.
“The market is still weak, even though many new brands have been launched at affordable prices. We hope the market can improve in the coming months,” Jongkie said on Monday, as quoted by bisnis.com.
Read also: Car sales plummet 26 percent year-on-year in January
Indonesia’s GDP growth stood at 5.05 percent in 2023, much lower than the 5.31 percent recorded in 2022, according to data from Statistics Indonesia (BPS).
