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Gaikindo anticipates 1 million car sales in 2023, eyes 10 pct growth in 2024

Jakarta Globe - January 4, 2024

Nabiel Gibran El Rizani, Jakarta – The Association of Indonesian Automotive Industries (Gaikindo) is anticipating car sales to reach 1 million units in 2023, a figure similar to the previous year, followed by a 10 percent growth expected this year.

"While all the data has not yet been collected, we are quite confident that we can surpass 1 million units," Kukuh Kumara, the Secretary-General of Gaikindo, said as quoted by Antara on Wednesday.

According to Gaikindo's data, factory-to-dealer sales from January to November totaled 920,758 units, experiencing a slight decrease of about 2.3 percent compared to the previous year. For retail sales from dealers to consumers, Gaikindo recorded approximately 908,343 units, with a marginal decline of 0.1 percent compared to the previous year.

Gaikindo remains optimistic about achieving its target of 1.1 million units this year. The association sees the presence of new brands as a positive boost to reaching this figure amid uncertainties in the market.

Gaikindo believes that the upcoming general elections in 2024 will not hurt the national automotive and export industry.

"When it comes to elections, Gaikindo's data has never shown negative results. Instead, it tends to rise because many people need vehicles for operational purposes and other reasons. So, don't associate elections with having a detrimental impact on our industry," he said.

Source: https://jakartaglobe.id/business/gaikindo-anticipates-1-million-car-sales-in-2023-eyes-10-pct-growth-in-202