Indonesian vehicle sales surge over 14 percent in April
New vehicle sales in Indonesia surged 14.1% year on year (y/y) to 102,256 units during April, while vehicle production was up 15.7% y/y to 117,886 units.
IHS Markit perspective
- Implications: The growth in new vehicle sales and production in Indonesia during April came on the back of special offers during the 2018 Indonesia International Motor Show and strong medium and heavy commercial vehicle demand in the country, thanks to rising investment in infrastructure and private construction projects.
- Outlook: 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 in the country to grow by 5.1% y/y to 1.05 million units this year, while light-vehicle production is forecast to grow by around 7.0% y/y to 1.22 million units.
Wholesale new vehicle sales in Indonesia - including passenger vehicles, light commercial vehicles (LCVs), and medium and heavy commercial vehicles (MHCVs) - surged 14.1% year on year (y/y) to 102,256 units during April, according to data from the Association of Indonesian Automotive Industries (GAIKINDO). Sales of light vehicles, including passenger vehicles and LCVs, grew 11.4% y/y to 91,232 units in April and accounted for 89.2% of the monthly total. Sales of MHCVs surged 43.9% y/y to 11,024 units in the month, accounting for the remaining 10.8%. By brand, Toyota's sales plunged 11.9% y/y to 29,360 units during the month, giving it a market share of 28.7%. Daihatsu came second with 18,869 units (up 21.5% y/y), followed by Honda with 17,016 units (up 15.9% y/y), Mitsubishi with 12,568 units (up 184.5% y/y), and Suzuki with 8,505 units (down 16.2% y/y). Meanwhile, imports of completely built-up (CBU) units went down by 5.8% y/y to 9,375 units during the month.
In the year to date (YTD), total vehicle sales in Indonesia grew by 5.6% y/y to 394,421 units, with light-vehicle sales up by 3.0% y/y to 354,832 units and MHCV sales up 37.2% y/y to 39,589 units. Imports of CBU units during the period were up 18.0% y/y to 35,646 units.
Indonesian vehicle production grew by 15.7% y/y to 117,886 units during April. Output of light vehicles was up 14.3% y/y to 107,285 units during the month, while MHCV production surged 32.1% y/y to 10,601 units. Automakers' exports of CBU vehicles went up by 13.7% y/y to 21,055 units during the month, while exports of completely knocked down (CKD) kits increased 6.0% y/y to 7,588 units. During the YTD, total vehicle production in the country grew by 6.8% y/y to 446,855 units. Light-vehicle production during the period increased by 4.0% y/y to 405,662 units and MHCV output grew by 45.1% y/y to 41,193 units. Exports of CBU units were up 3.1% y/y to 77,291 units during the period, while exports of CKD kits declined 4.2% y/y to 26,678 units.
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The above article is an excerpt from AutoIntelligence Daily by IHS Markit. AutoIntelligence Daily provides same-day analysis of automotive news, events and trends. Get a free trial and read the full article.
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