Motorcycle sales up 23% in 2003

Motorcycle sales up 23% in 2003

JAKARTA: In Indonesia, domestic sales of new motorcycles rose 23 percent to 2.81 million units in 2003 thanks to lower interest rates, car assemblers' association Gaikindo said on Tuesday.

Market leader PT Astra International said it sold 1.577 million motorcycles last year, up 9.7 percent from 1.437 million in 2002.

Astra, which makes and sells Honda motorcycles with Japan's Honda Motor Co., said its Honda motorcycle sales rose 9.1 percent to 1.423 million units by the end of 2003 from 1.304 million a year earlier.

Cycle & Carriage Ltd. of Singapore holds a 35 percent stake in Astra International. -- Dow Jones