Auto Sales Rebound in October, but 2017 Target in Doubt
Jakarta Globe | November 10, 2017- Automotive sales rebounded by 2.5 percent year-on-year in October, thanks to rising demand for commercial vehicles, according to figures the Association of Indonesian Automotive Industries, or Gaikindo, released on Thursday (09/11).
Manufacturers sold 94,461 units last month, compared with 92,139 in the same period last year. The sales figure is also 7.7 percent higher, compared with September's 87,645 units.
"Certainly, demand for commercial vehicles has strengthened this year, boosted by better coal and crude palm oil prices," said Fransiscus Soerjopranoto, executive general manager at Toyota Astra Motor, a joint venture between the Japanese automaker and Indonesia's largest listed conglomerate, Astra International.
However, he said demand for passenger vehicles has yet to improve, making him less optimistic that manufacturers can meet Gaikindo's sales target of 1.1 million cars this year.
Auto sales in the first 10 months reached 898,218 units, up 2.6 percent from the same period last year.
Soerjo predicts that full-year sales may only reach 1.07 million units, compared with 1.06 million last year.
He expressed hope that new models would help stoke buyers' interest.
Suzuki was set to launch its new multipurpose SX4 S-Cross on Friday, while Toyota Astra will introduce an upgraded version of its popular Rush multipurpose vehicle.