Motorcycle sales up by 2.3%<\/p>\n
The Jakarta Post, Jakarta<\/p>\n
Sales of new motorcycles in October increased by 2.3 percent to
\n291,115 units from the level in the previous month, the
\nIndonesian Automotive Industry Association (Gaikindo) said on
\nThursday.<\/p>\n
Automotive giant PT Astra International sold 165,288 units
\nduring the month, which was a 17 percent increase from 154,389
\nunits in September. Astra, which makes Honda motorcycles, is the
\nmarket leader in the country's car and motorcycle market. The
\npublicly-listed company is 35 percent owned by Singapore's Cycle
\n& Carriage Ltd.<\/p>\n
Sales of Honda motorcycles rose by 8.2 percent to 150,960
\nunits from 139,477 units, Gaikindo said.<\/p>\n
During the first 10 months of this year, Astra sold some 1,35
\nmillion motorcycles. Gaikindo did not provide the figure for last
\nyear.<\/p>\n
The association said that the rise in motorcycle sales was
\nattributable to stronger demand as banks had been aggressively
\nproviding consumer loans amid declining interest rates.<\/p>\n
Motorcycle sales are one way of gauging domestic consumption,
\nwhich has been the main driver of the country's economic growth
\nover the past couple of years.<\/p>\n
The Central Statistics Agency (BPS) earlier this week reported
\nthat the economy grew by 3.93 percent during the third quarter of
\ncompared to the same period last year. The growth was mainly
\ndriven by consumer consumption and government spending as exports
\nand investments remained weak. The government usually boosts its
\nspending during the second half of the year.<\/p>\n
The government is targeting a 4 percent economic growth rate
\nfor this year.<\/p>\n
Analysts have said that consumer spending would likely grow
\nmore strongly in the fourth quarter as people spend more during
\nthe year-end festivities.<\/p>",
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