New Transportation research report from Business Monitor International is now available from Fast Market Research
Boston, MA -- (SBWIRE) -- 02/11/2013 -- BMI remains bullish on growth in Indonesia's auto sector. Despite the introduction of new regulations regarding minimum down payments on vehicle purchases in June 2012 and a further tightening of legislation in September 2012 to include Shariah lending as well, Indonesia's total vehicle sales for September 2012 came in at 102,111 units. They were close to the record high of 102,512 units reached in July 2012. Should this strong pace of growth be maintained, it would take total 2012 vehicle sales beyond BMI's forecast for 9.8% growth.
Given that sales picked up in September 2012, the market has somewhat digested this new legislation for vehicle sales and we are maintaining our full year forecasts. Sales for the first nine months of 2012 were strong with total sales up 24% year-on-year (y-o-y) to 816,337 units. September's sales were 28% higher than September 2011. BMI currently expects vehicle sales to grow by an average of 10% per year between 2012 and 2016.
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Carmakers share this upbeat view. Japan's Mazda Motor has announced that Indonesia will play a pivotal role in its plan to sell 1.7mn units worldwide by 2016. Mazda President and CEO Takashi Yamanouchi said 'the country is increasingly becoming an important market for our strategic viewpoint'. Mazda is employing four strategies to meet its global goal, one of which is to increase its operations in South East Asia. As the region's biggest passenger car sales market, Indonesia is a prime target for growth and the company plans to triple its sales in the country by 2015. This will involve an increase from the 9,054 units sold in 2011 to 30,000 units. In 2012, Mazda is aiming for 12,000 units, which would be a 30% increase on 2011.
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