The Jakarta Post
Defying high fuel prices and lending interest rates, sales of motorcycles continued to remain strong in the first eight months of the year with Honda still managing to hold off stiff challenge from Yamaha to retain top spot.
Sales during the January-August period reached slightly over 4.2 million, or a 43 percent increase from the same period a year earlier, data from the PT Astra International, Honda distributor, and Indonesian Motorcycle Industry Association (AISI) reveal.
The robust growth came despite the current high interest rate environment triggered by inflationary pressure. Indonesians usually finance their vehicle purchases with bank lending.
The government increased fuel prices nearing the end of the first semester by 28.7 percent on average, pushing up inflation and interest rates. The eight-month figure keeps the full-year target of 5.2 million,...