The Jakarta Post
Easier access to bank loans, coupled with worsening traffic congestion mainly in Greater Jakarta, boosted new motorcycle sales last year by 32 percent.
Motorcycle sales topped a record 6.21 million units last year as against 4.68 million units in 2007, according to PT Astra International and the Indonesian Motorcycle Industry Association (AISI) Tuesday.
Last year’s sales defied high fuel prices and higher lending interest rates.
The government increased fuel prices nearing the end of the first semester by 28.7 percent on average, pushing up inflation and interest rates to 9.5 percent until early December.
Motorcycle sales are often used to gauge the purchasing power of middle to low-income consumers.
According to AISI, the largest sales were recorded in August last year, when 612,032 new motorcycles hit the street.