Motorcycle sales up 2.9% in May

Motorcycle sales up 2.9% in May

JAKARTA: Sales of new motorcycles in Indonesia rose 2.9 percent to 320,904 in May from 311,995 in April, Indonesia's association of motor-vehicle producers Gaikindo said Wednesday.

It didn't provide a reason for the increase in May, which saw the highest monthly sales figure during the first five months of the year.

But analysts said the increase was likely due to the low interest rate environment in the country.

Market leader PT Astra International sold 164,424 motorcycles in May, down 3.3 percent from 170,086 units in the previous month.

Astra makes and sells Honda motorcycles with Japan's Honda Motor Co.

In the first five months of this year, Astra sold 798,932 motorcycles, equivalent to a 54 percent market share. -- DJ