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View all search resultsGaikindo expects car sales to remain low next year
Gaikindo projects domestic car sales in 2021 to hit 800,000 vehicles, lower than last year’s wholesale figure of 1.03 million.
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T
he Association of Indonesian Automotive Manufacturers (Gaikindo) has forecast that domestic car sales will remain at a pre-pandemic level next year, as an economic rebound is expected to take time with COVID-19 still impacting the auto industry.
Gaikindo projects domestic car sales in 2021 to hit 800,000, lower than last year’s wholesale sales of 1.03 million cars.
“We believe it will take around two years for the economy to return to a pre-pandemic level. Therefore, we project that domestic sales will only reach 800,000 units by 2021,” Gaikindo chairperson Yohannes Nangoi said on Wednesday during a webinar held by BNI Asset Management.
The forecast came as the association slashed this year’s domestic car sales forecast for the second time to 525,000, from the previous 600,000 cars.
The revision was also made following October’s underwhelming car sales figure of around 49,000 units, a mere 1 percent growth month-to-month (mtm) and around half of last year’s figure at around 96,100. The October result also contrasts with September’s mtm jump in car sales of 30.4 percent to around 48,500 vehicles.
“It will be challenging for us to reach this year’s target even though we believe the conditions will improve by next year,” he said.
Wholesale sales for domestic cars between January and October this year reached around 421,000 units, a 50.5 percent year-on-year (yoy) drop from the same period last year, according to Gaikindo data.
