Vehicle sales in Indonesia grew just 2.5-percent year-on-year in June 2013, compared with a 4.2-percent year-on-year gain in May. According to industry data, a total of 104,265 vehicles were sold in Indonesia, which is considered as the biggest economy in Southeast Asia. Month-on-month sales growth in the country for June 2013 was 4.7 percent, lead by Japanese carmakers Toyota Motor Corp, Suzuki Motor Corp and Daihatsu Motor Co Ltd.
The lower sales growth in June was attributed to higher fuel prices in the country. Gaining strong for the month were motorcycles, which sales grew as consumer shift from cars due to higher fuel prices and purchases ahead of festivities at the end of the Ramadan.
Vehicle sales account for around 50 percent of Indonesia’s economy, making it one of the most important indicators of domestic consumption. The Indonesian central bank on Thursday increased its benchmark rate by 50 basis points to 6.5 percent to limit inflation as fuel prices surged anew in June. [source: Reuters]