Electric vehicle (EV) sales have more than doubled and now make up 5 percent of the market as sales of gasoline-powered cars plunge.
ndonesia’s car market has shrunk further, with 2024 marking a second year of falling sales, but electric vehicles are bucking the trend.
Nationwide wholesales, or sales from factories to dealers, plunged 13.9 percent from just over 1 million cars in 2023 to 865,723 last year, according to the latest data from the Indonesian Automotive Manufacturers Association (Gaikindo).
Meanwhile, retail sales, or direct purchases by consumers, dipped 10.9 percent year-on-year (yoy) to 889,680 units.
By contrast, sales of EVs and hybrid cars more than doubled last year, and the two now account for 12 percent of the overall market, the Gaikindo data show.
Read also: Indonesian car industry sees sales fall 4% in 2023
The association had trimmed its full-year target in September from 1.1 million to 850,000 units as carmakers acknowledged sluggish demand following a slow start to the year.
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