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Electric vehicles buck downtrend in Indonesian car sales
Electric vehicle (EV) sales grew by over 109 percent year-on-year in the first five months of this year
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An electric vehicle (EV) charges on Oct. 18, 2023, at an Antuoshan charging station in Shenzhen, in China's southern Guangdong province. The European Union and China are
locked in a row over planned tariffs of up to 38 percent on imports of Chinese EVs. (AFP/Hector Retamal)
I
ndonesia saw electric vehicle (EV) sales grow by over 109 percent year-on-year (yoy) in the first five months of this year, much better than the sales of its combustion engine counterparts.
National electric car wholesales, or sales from factories to dealers, totaled 9,729 units from January to May this year, marking an increase from 4,640 units in the same period of last year, according to Indonesian Automotive Manufacturers Association (Gaikindo) data.
Gaikindo Chairman Jongkie Sugiarto stated that he expects the positive trend in EV sales to continue throughout this year. This trend will be boosted by events held by the association, as reported by Kontan.
Consumers, he added, are also awaiting the development of charging stations, initiated by the industry and the government.
Indonesia is aiming for 2 million EV passenger cars and 13 million electric motorcycles to be on its roads by 2030. The country's EV market value is expected to increase to US$20 billion by 2030 with a phenomenal compound annual growth rate (CAGR) of 58.5 percent, according to an AC Ventures report published last year.
Read also: New car financing surges despite lower automobile sales in Q1 2024
An EV produced by Chinese carmaker Wuling came on top as the most popular model sold in the country with the wholesale figure reaching 5,468 units in the first five months of this year, a surge of over 278 percent compared to the same period last year at 1,444 units.
