Astra's May vehicle sales down 0.7%

Astra's May vehicle sales down 0.7%

JAKARTA: PT Astra International on Monday said its domestic new vehicle sales in May fell 0.7 percent to 23,354 units from 23,526 in April.

The nation's largest automotive company was citing data from the Association of Indonesian Automotive Manufacturers (Gaikindo).

The association did not provide an explanation for the fall, but analysts attributed it to lower purchasing power and relatively higher interest rates, which prevented consumers from buying vehicles using bank loans. -- Dow Jones