November car sales rise 62 percent

November car sales rise 62 percent

Naila Firdausi, Bloomberg, Jakarta

Indonesia's automobile sales in the local market rose 62 percent
in November from a year earlier, PT Astra International said,
citing figures from the Association of Indonesian Automotive
Industries.

A total of 35,162 vehicles were sold last month, compared with
21,683 in the same month last year. Astra sold 16,093 automobiles
in the local market last month, 81 percent more than the 8,879
units it sold in the same month last year.

Faster economic growth and record-low interest rates are
helping Astra and rival PT Indomobil Sukses Internasional sell
more cars in the country of 235 million people. Most car
purchases in Indonesia are funded by loans.

Indonesia's economy may expand 5 percent this year, higher
than an earlier forecast of 4.8 percent, the International
Monetary Fund said. That would be the fastest pace in eight
years.

In the first 11 months, sales of trucks, jeeps and sedans in
Indonesia grew 33 percent to 434,743 units from 326,225 units.
Astra's domestic sales in the 11 months rose to 193,999 from
136,098 units a year earlier.

In October, domestic sales by Indonesian automakers included
in the association expanded 41 percent.