Auto sales in Indonesia had an optimistic start with a 26.5% increase in January after having broken records in 2012 due to low interest rates and surges in wages. Auto sales are regarded to be a significant indicator of domestic consumer spending. High auto sales are also a sign of quick growth in the country, which is the biggest economy in Southeast Asia.
Sales in January increased to 96,656 vehicles. The climb was a lot faster than the 11.4% year-on-year increase noted in December. Sales had grown by 8% over the previous month. The Indonesia Automotive Industry Association (Gaikindo) said that sales were led by Toyota Motor Corp, Mitsubishi Motors Corp and Suzuki Motor Corp.
Several analysts have predicted a double-digit growth in 2013 after a 25% increase to 1.1 million vehicles in 2012 despite new down payment requirements for auto purchases which were targeted at lowering loan growth. Nissan’s multi-purpose vehicle (MPV) models Grand Livina and Evalia had helped the automaker post its best January sales ever of 5,409 vehicles in Indonesia, a 3.9% increase from the previous year. Nissan regards Indonesia as a key to its goal to revive Datsun as its emerging market brand.