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.
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.
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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.
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