The Jakarta Post
Domestic demand for automobiles will increase dramatically by 2025, driven by rising per capita incomes, robust economic growth and urbanization, a consulting group says.
The ratio of local car owners would jump significantly from 80 to 300 units per 1,000 people by 2025, an increase of 275 percent, boosted particularly by increased consumer purchasing power, Masaki Honda, the principal consultant for automotive and transportation at Frost & Sullivan Asia Pacific, said on Monday in Jakarta.
“Indonesia’s gross domestic product [GDP], which was US$700 billion in 2010, is expected to reach $4.6 trillion by 2025, making it the world’s 10th largest economy. By that time, the GDP per capita will be $17,000, up from around $3,000 at present,” Honda said during the 7th Indonesia International Automotive Conference at the Jakarta International Expo in Kemayoran.