T

he biggest-ever Indonesia International Motor Show (IIMS) concluded on Sunday evening, booking a new record in transactions that inched near Rp 5 trillion (US$521.30 million), up 52.91 percent from last year, according to the latest estimate by the Indonesian Automotive Industry Association (Gaikindo).

“As of Saturday, one day before closing, transactions had already hit Rp 4.4 trillion and this figure surpassed our initial expectations,” Gaikindo chairman Sudirman Maman Rusdi said.

The expo might receive a final boost from orders sealed on the last day of the 11-day event held at the Jakarta International Expo in Kemayoran, Central Jakarta, he added.

The association earlier targeted Rp 3.5 trillion in sales, a slight increase of 7 percent from last year’s Rp 3.27 trillion, as automakers anticipated negative impacts of a newly introduced rule on higher down payment on car sales.

In June, the central bank raised the minimum down payment for automobile purchases from 10 percent to 25 percent of the price for commercial vehicles and to 30 percent for passenger cars, and from 5 percent to 25 percent for motorcycle purchases. This rule, effective since June 15, is a bid to avert a potential credit bubble and excessive jump in consumer loans.

Maman said that the number of visitors would also likely exceed the expectation with 360,000 people, compared to 350,000 targeted by the organizers, up 11.52 percent from last year, as they might flood the expo on the last day.

Last Sunday, the fourth day of the expo, the number of visitors peaked to total 52,010 people. As of Saturday, a day before the closing, visitors amounted to 320,132 people.

Interesting discounts that can reach up to 15 percent of regular vehicle prices and loans with low interest rates offered during the event are among the factors that draw high enthusiasm from the public, particularly potential buyers.  

Indonesia’s second-biggest automobile player Astra Daihatsu Motor (ADM) estimated its sales during the expo were 478 units as of Sunday, up 21.32 percent from the past year.

“Until Saturday, we sold 378 units, around half of which came from [multi-purpose vehicle] Daihatsu Xenia. We expect to sell around 100 units on the last day of the expo, bringing a total of nearly 500 units,” Rio Sanggau, ADM domestic marketing division head, told reporters during a press briefing.

According to Daihatsu statistics, it sold 193 units of Xenia, with significant boosts to other models, Terios and Sirion, with sales of 97 units and 52 units respectively.

Another major player, Suzuki Indomobil Sales, sold 476 units as of Sunday evening, sales director Davy Tulian said in a text message. Korean carmaker Hyundai Motor Indonesia, sold 598 units as of Saturday, particularly helped by its newly launched commercial vehicle Hyundai Excel III Taxi and crossover sports utility vehicle (SUV) Hyundai Santa Fe which contributed 150 units and 148 units respectively, the firm said in a statement.

Sales for premium cars were also healthy with German-based BMW, for example, reported purchase orders of 200 units for BMW models, including BMW Series 3, and 60 units for MINI models, including MINI Hatch and Countryman, as of Saturday, BMW Indonesia president director Ramesh Divyanathan said.

“Although sales are not our main goal in the motor show this year, we are satisfied with customers’ high welcome on our BMW models and iconic MINI models that we present to the public,” he said.