Companies / Indonesia
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Hopes Of A Record As Indonesia Takes Charge Of ASEAN Autos
July 2008 | Industry NewsSorry, you must be a subscriber to view this article in full. If you are a subscriber please login.
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As Indonesia takes its turn at the helm of the ASEAN automotive co-operative, the country's new vehicle market is showing the potential to return to record levels. Sales for H108 were up by 48% year-on-year (y-o-y) in 2008 at 292,589 units, while sales for June alone were the highest ever monthly sales for the industry at 54,631 units. The strong performance comes despite a 30% increase in fuel prices in May and a further hike in interest rates, as Bank Indonesia attempts to reduce inflationary pressures.