Significant Decline in Car Sales in Indonesia – January 2024 Data Revealed

Jakarta –

Car sales in January 2024 plummeted. The decline reached more than 26 percent.

Quoted from Stockbit research, wholesale sales (distribution from factories to dealers) of vehicles in Indonesia in January 2024 fell 18.4 percent compared to December 2023. Compared to January 2023, car sales in January 2024 decreased by 26.1 percent.

In the first month of 2024, wholesale car sales were only recorded at 69,619 units. In fact, in December 2023 car sales reached 85,284 units and in January 2023 they reached 94,270 units.

General Secretary of the Association of Indonesian Automotive Industries (Gaikindo) Kukuh Kumara confirmed that car sales data had decreased. Kukuh agrees that car sales in January 2024 compared to December 2023 or January 2023 will experience a decline.

According to Kukuh, many factors caused car sales to decline. Kukuh said that the downward trend in vehicle sales has been felt since September 2023.

“There are many (factors), it’s long. So if we look at the indications it started in September. In September it went down, October also went down, even though August was just the GIIAS exhibition. But it turns out September went down,” said Kukuh when contacted by detikOto, Tuesday ( 20/2/2024).

One of them is tightened vehicle credit. In fact, the majority of car buyers in Indonesia choose a credit scheme.

“80 percent of people buy cars using credit. As soon as (credit) was tightened, people put a brake on purchasing motorized vehicles. Added to that later because there was tightening and there were also indications, if I’m not mistaken, from banks that NPLs (non-performing loans/problem loans) were also “There is an upward trend, as soon as the NPL rises, it gets tighter. The more it tightens, the fewer people buy cars. A chain effect,” explained Kukuh.

In addition, Indonesia’s economic growth has experienced a decline. “Our economic condition has fallen slightly, although it is still around 5 percent,” said Kukuh.

The following is wholesale car sales data in January 2024:

Astra Group

• Toyota + Lexus: 21,111 units (down 34.7 percent compared to December 2023 and down 27.2 percent compared to January 2023)
• Daihatsu: 14,363 units (up 12.2 percent compared to December 2023 and down 21.1 percent compared to January 2023)
• UD Trucks: 148 units (up 54.2 percent compared to December 2023 and down 30.2 percent compared to January 2023)
• Peugeot: 12 units (up 71.4 percent compared to December 2023 and down 20 percent compared to January 2023)

Non-Astra

• Mitsubishi: 8,996 units (down 1.5 percent compared to December 2023 and down 26.3 percent compared to January 2023)
• Honda: 8,413 units (down 0.1 percent compared to December 2023 and down 46.7 percent compared to January 2023)
• Suzuki: 6,138 units (down 17.1 percent compared to December 2023 and down 6.8 percent compared to January 2023)
• Hyundai: 3,003 units (up 3.3 percent compared to December 2023 and down 26.2 percent compared to January 2023)
• Wuling: 2,177 units (down 48.4 percent compared to December 2023 and up 271.5 percent compared to January 2023)
• Nissan: 76 units (down 6.2 percent compared to December 2023 and down 45.7 percent compared to January 2023)
• Others: 2,832 units (down 48.2 percent compared to December 2023 and down 31.6 percent compared to January 2023)

Total: 69,619 units (down 18.4 percent compared to December 2023 and down 26.1 percent compared to January 2023).

Watch the video “Car Sales Competition in Indonesia vs Thailand, Who Wins?”

(rgr/your)

2024-02-20 06:11:36
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