Indonesian new vehicle market grows in October
Indonesian new vehicle market grows 12.3% y/y in October, production up 15.8% y/y. The growth can be attributed to new model launches and strong medium and heavy commercial vehicle demand in the country, thanks to increasing investment in infrastructure and private construction projects.
IHS Markit expects new vehicle sales in Indonesia to be propelled in 2018 by a steady improvement in the country's economy, continuing infrastructure expansion, and new model launches. We expect light-vehicle sales to increase by 5.1% to 1.05 million units this year, while production is forecast to grow by around 7.6% to 1.23 million units.
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