TheJakartaPost

Please Update your browser

Your browser is out of date, and may not be compatible with our website. A list of the most popular web browsers can be found below.
Just click on the icons to get to the download page.

Jakarta Post

Weak car sales take toll on BCA Finance’s first half revenue

PT BCA Finance booked Rp 16.36 trillion (US$954.28 million) in revenue in the first half, a 5 percent decline year-on-year. 

Riska Rahman (The Jakarta Post)
Premium
Jakarta
Wed, October 2, 2019

Share This Article

Change Size

Weak car sales take toll on BCA Finance’s first half revenue The Wuling SUV, known as the Baojun 530 in China, is on display at the GIIAS car exhibition at the Indonesia Convention Exhibition (ICE) compound in Tangerang in August 2018. Multifinance company PT BCA Finance reported a decline in its revenues during the first half amid sluggish car sales. (JP/R. Berto Wedhatama)

S

luggish car sales have taken a toll on multifinance company PT BCA Finance, which reported a revenue decline in the first half of the year. 

The automotive financing subsidiary of private lender Bank Central Asia (BCA) booked Rp 16.36 trillion (US$954.28 million) in sales during the first half, a 5 percent decline from the same period last year, president director Roni Haslim said in Jakarta on Thursday, last week.

He attributed the decline in financing to sluggish car sales throughout the year.

According to the Association of Indonesian Car Manufacturers (Gaikindo), car sales fell 13.5 percent to 660,288 vehicles from January-August, from 763,444  during the same period last year.

Finance director Amirdin Halim also added that the car sales slump had actually been felt since the second half of last year, as most businesses had been in wait and see mode ahead of the April 2019 elections.

He said the company expected new car sales to remain slow until the end of the year, as the global economic slowdown could also affect the Indonesian economy.

“With the current economic trend, we don’t want to be too expansive this year, that’s why we project our financing stay stable for around Rp 33 trillion,” he said during a press briefing in Jakarta.

to Read Full Story

  • Unlimited access to our web and app content
  • e-Post daily digital newspaper
  • No advertisements, no interruptions
  • Privileged access to our events and programs
  • Subscription to our newsletters
or

Purchase access to this article for

We accept

TJP - Visa
TJP - Mastercard
TJP - GoPay

Redirecting you to payment page

Pay per article

Weak car sales take toll on BCA Finance’s first half revenue

Rp 29,000 / article

1
Create your free account
By proceeding, you consent to the revised Terms of Use, and Privacy Policy.
Already have an account?

2
  • Palmerat Barat No. 142-143
  • Central Jakarta
  • DKI Jakarta
  • Indonesia
  • 10270
  • +6283816779933
2
Total Rp 29,000
{

Your Opinion Matters

Share your experiences, suggestions, and any issues you've encountered on The Jakarta Post. We're here to listen.

Enter at least 30 characters
0 / 30

Thank You

Thank you for sharing your thoughts. We appreciate your feedback.