Indonesian Vehicles Sales still suffering in 2024. In January new sales only reached 69,619 units (-26.0%). Despite this loss in momentum Wuling booms 271.5%, ranking in 8th spot.
Market Trend and Outlook
Observing the Indonesian Vehicle Market we can observe this loss in momentum, with sales in 2023 at 1 million and down 4.2% from the prior year. Similarly, in January 2024 the market is down 26.0% with accumulative registrations at 69,619.
Looking at cumulative data up to January 2024 brand-wise, the leader is still Toyota with 20,988 sales (-27.6%), followed by Daihatsu with 14,363 (-21.1%), Honda with 8,413 sales (-46.6%) and Mitsubishi with 6,962 sales (-12.4%).
Suzuki in 5th with 6,138 sales (-6.8%), followed by Hyundai -up 1 spot- at 3,003 units sold (-26.2%).
Isuzu up 1 spot into 7th with 2,350 sales (-29.6%), in front of Wuling -up 2 spots- at 2,177 (+271.5%), Mitsubishi Fuso -down 3 spot- in 9th at 2,034 registrations (-52.3%) and Hino -down 1 spot- closing the Top 10 with 1,404 sales (-42.4%).
Looking at specific models the Daihatsu Sigra becomes the new best seller, rising 1 spot althoug decreasing 14.8% year-on-year, followed by the Honda Brio down 26.9%.
Medium-Term Market Trend
The market had spent four years in the sky, when, during 2010-2013 the market scored four all-time records in a row, almost doubling volume and not only outpacing the magic 1 million units quota but landing at a 2013 record of 1.22 million vehicles sales, before interrupting the run in 2015 with registrations at 1,031,808 (-14.5%).
Then a new positive pathway was taken ending 2016 at 1,074,000 units (including HCVs and Bus) and keeping a moderate recovery in 2017 as well. In 2018, the market was substantially flat, ending with 1,140,349 units sold. In 2019, the market registered a negative trend, with full-year sales at 1,079,474 (-5.3%).
Due to the COVID-19 pandemic sales fell in 2020. In fact, 582,298 units were sold, reporting a decline of 46.1% compared to 2019.
In 2021 the year started negatively for the Indonesian market, in fact, in Q1 178,451 units have been sold, reporting a 24.5% decrease in sales compared to Q1 2020, while in Q2 sales started growing extremely quickly, reporting a 771% increase in sales with 209,439 units due to the very low volumes in Q2 2020.
In Q3 sales kept rising quickly, gaining 100.6% sales with 212,498 units, and in Q4 sales gained 21.8% with 262,984.
Indeed, Full-Year sales for 2021 were 863,372, reporting a 48.3% increase compared to 2020.
Sales in 2022 totaled 977,527, a 21.1% increase from the prior year.
Looking at the Indonesian Vehicle Market in 2023 we can observe this loss in momentum, with sales in 2023 at 1 million and down 4.2% from the prior year.
Tables with sales figures
In the tables below we report sales for all Brands, top 10 Manufacturers Group and top 10 Models.