Indonesia Car Sales Expected To Fall In August 2013 After Strong July 2013 Growth
News: Experts predict will automotive sales in Indonesia will slow down in August 2013 following strong growth in July 2013, The Jakarta Post reports. According to the Indonesian Automotive Industry Association (IAIA), sales grew by 7% month-on-month in July 2013, to 112,184 units. However, the IAIA has attributed that boost in sales to the Idul Fitri holiday. Therefore, with fewer working days, rising fuel prices and the increase in minimum down payments taking their toll, Indonesian auto sales are expected to be lower in August 2013.
BMI View: According to preliminary data acquired from Indonesia's car distributors, vehicle sales for the first four months of 2013 grew 18.2% y-o-y, to 397,991 units. BMI's bullish view on Indonesian auto sales since 2012 (see our online service, December 17 2012, '2013 Sales Will Set Another Record'), continues to play out and latest growth figures are firmly on track to meet our bullish full year forecast of 10.7%.