According to wholesale data released by the Indonesian Automobile Manufacturers Association (Gaikindo), in May this year, Indonesia’s new car sales fell 15% year-on-year, from 71,391 units in the same period last year to 60,613 units. Compared with the same period last year, the Indonesian new car market performed weaker in May this year, and new car sales in Indonesia in the same period last year have fallen by 13% from the post-epidemic peak level.
Innova； Image source: Toyota Motor
In the first five months of this year, new car sales in Indonesia fell 5.5% year-on-year to 316,981 units (compared with 335,405 units in Indonesia in the same period last year). Passenger car sales fell 5% y/y to 248,897 units, and commercial vehicle sales fell more than 6% y/y to 68,084 units.
From the perspective of car companies, in the first five months of this year, Toyota’s sales increased slightly by 2% year-on-year to 106,027 units, mainly due to strong demand for newly launched models such as the Hilux Rangga and Innova MPV; However, other Japanese automakers are facing increasing market pressure from Chinese car brand sales as these Chinese car brands are driving the Indonesian market to pure carElectric vehicleDemand: Daihatsu Motor’s sales decreased 22% y/y to 55,049 units; Honda sold 28,502 units, down 29% year-on-year; Mitsubishi Motors sold 26,028 units, down 13% year-on-year; Suzuki’s sales were 22,240 units, down 22% year-on-year.
In terms of power type, in the first five months of this year, Indonesia was pure electricCar salesnearly tripled year-on-year to 30,152 units; Among them, BYD and its Denza brand sold 15,978 units, SAIC-GM-Wuling sold 4,735 units, and Chery/Omoda sold 4,081 units.
In the overall vehicleyieldIn the first five months of this year, Indonesia’s total vehicle production decreased slightly by 1.4% year-on-year to 466,290 units; Vehicle exports increased by more than 7% y/y to 192,501 units.
Consumers have declined in their willingness to purchase large goods due to a significant weakening in market confidence over the past year, and companies are facing increasing international trade uncertainty due to the recent increase in import tariffs by the United States. Jongkie Sugiarto, Vice Chairman of Gaikindo, said: “The weakening of the purchasing power of new cars has become the main reason for the continued decline in car sales in Indonesia. ”
In the first quarter of this year, Indonesia’s gross domestic product (GDP) growth slowed slightly to 4.9% year-on-year, down from 5.0% in the previous quarter, mainly dragged down by weak domestic consumption and export performance.
In May, Bank Indonesia cut its benchmark interest rate again, from 5.75% in February to 5.50% — the third rate cut since the benchmark rate peaked at 6.25% in August last year.
Other than thatGasso Automotive Research InstituteAccording to the data, in May this year, China exported a total of 9,145 passenger cars to Indonesia, including 5,902 pure electric vehicles.
