Companies / Indonesia
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No Repeat of Record Year
October 2006 | BMI ViewSorry, you must be a subscriber to view this article in full. If you are a subscriber please login.
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A record year in 2005 for Indonesia's automotive sales seems a long way off now, as sales for the first half of 2006 reflect a decline of almost 50% y-o-y. Industry Association Gaikindo has already readjusted its forecast for the year, while BMI's recently published Indonesia Automotives Report is even more cautious in forecasting sales of 341,913 units, a drop of 36% y-o-y. Indeed, BMI's forecast does not envisage a return to the level of sales achieved in 2005 for the remainder of the five-year forecast period. High interest rates and unstable oil prices have combined to create a less