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Gaikindo lowers bar for car sales after sluggish September
The Association of Indonesian Automotive Manufacturers (Gaikindo) has lowered its target for 2024 car sales after disappointing numbers for four-wheelers so far this year.
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New cars are seen parked at a factory on March 13, 2024, in Bojomangu, Bekasi regency, West Java. (Antara/Fakhri Hermansyah)
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he Association of Indonesian Automotive Manufacturers (Gaikindo) has toned down its expectations for 2024 car sales after sluggish performance so far this year.
The industry group cut its full-year target for four-wheelers from 1 million to 850,000.
“The reason [for the revised target] is that sales figures did not increase significantly [after a slow start to the year],” Gaikindo cochairman Jongkie Sugiarto said on Thursday, as quoted by Bisnis.
The September wholesale figure of 72,667 units, which reflects factory-to-dealer sales, was down 9.1 percent year-on-year (yoy) from 79,919 units in the same month last year, according to data released by Gaikindo.
Read also: Ministry suggests reviving COVID-era tax break for car sales
Retail sales, or direct purchases by consumers, recorded a 10.6-percent annual drop to 72,366 units in September from 80,984 last year.
The cumulative wholesale figure showed 633,218 vehicles change hands during the January-to-September period of this year, down 16.2 percent from 755,778 units sold in the same period last year.
