Mon, 23 Jul 2007
Car and truck sales are on track to return to record levels of more than half million units next year, powered by a recovery in the economy, the Indonesian Automotive Industry Association (Gaikindo) said.

Vehicle sales are expected to top more than 400,000 units this year, recovering from a more than 40% slump in 2006 when sales sagged to 318,883 units amid a jump in interest rates, it said, according to Reuters.

"Conducive economic conditions have helped the recovery in the automotive industry," Gaikindo official Johnny Darmawan said on Thursday (19/7/07) while opening a motor show.

"If the economic recovery continues, we are optimistic domestic sales can reach 500,000 units in 2008," he said, adding that exports of completely built-up vehicles may hit 50,000 units this year.

Vehicle sales hit a historic high of 533,910 units in 2005, when Indonesian interest rates were at a record low, but fell sharply after the government decided to hike fuel prices late that year.

Industry Minister Fahmi Idris said exports of completely-built-up (CBU) cars in the first five months of 2007 reached volume of around 21,000 units, up some 90% from the corresponding period last year, Asia Pulse reported.

Speaking at the opening of an international motor show, Idris said full-year CBU car exports would reach around 50,000 units, up by 50% compared to last year.



News Search/Filter
Transaction Rates
18 Oct 17
Buy
Sell
BTC1
75,162,954
75,162,954
Taxation Exchange Rates
31 Aug 16 - 06 Sep 16
USD 1
13,232.00
AUD 1
10,043.30
CAD 1
10,213.70
DKK 1
1,999.40
HKD 1
1,706.22
MYR 1
3,283.28
NZD 1
9,623.63
NOK 1
1,605.23
GBP 1
17,433.70
SGD 1
9,757.68
SEK 1
1,569.45
CHF 1
13,631.10
JPY 100
13,101.00
MMK 1
11.01
INR 1
197.29
KWD 1
43,920.70
PKR 1
126.23
PHP 1
285.00
SAR 1
3,528.53
LKR 1
91.12
THB 1
382.08
BND 1
9,756.53
EUR 1
14,885.50
CNY 1
1,987.61

Okusi Associates: Indonesian Business & Management Services