Car Sales Beat Forecasts But Taxes Threaten Growth

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Indonesia's autos sector outperformed industry projections to register car sales of 486,061 units in 2009. Despite the 20% year-on-year (y-o-y) decline, the results were better than expected, easily exceeding the initial projections of the Indonesian Automotive Industry Association (Gaikindo) for sales of 400,000 units. Indeed, data show consistent month-on-month growth between April and August, while sales for October were up 40% compared with September.