Automobile sales in Indonesia drops 5.5% in March, 2016

Automobile sales in Indonesia fell 5.5 percent in March from a year earlier, according to a data on Friday, as the country's customer purchasing power continues facing pressures.


Car sales were recorded at 93,990 units last month, compared to 99,410 in the previous month, according to data from Indonesia’s Automotive Industry Association (Gaikindo).


March marked the 19th consecutive month of sales decline.

The association targets automotive sales to grow five percent this year from 1.01 million units in 2015.

Car sales are seen as one of the indicators of household consumption in Indonesia, which accounts for more than half of the country’s economy.

The Indonesian government expects GDP growth in the Southeast Asia’s largest economy to reach 5.3 percent in 2016, expanding from last year’s 4.8 percent, which was the country’s slowest pace in six years. Endit

Source: Xinhua

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