Car Sales Show Weak Signals in 2024

Gaikindo is expressing concern that the potential increase in Value Added Tax (VAT) to 12% in 2025 could negatively impact the automotive industry.

Bisnis, JAKARTA — The domestic automotive industry's hopes for a recovery by the end of 2024 are starting to wane, as the sector continues to face significant pressure.

According to the latest data from the Association of Indonesia Automotive Industries (Gaikindo), total wholesale car sales (from factories to dealers) for January-November 2024 stood at 784,788 units. This marks a 14.7% year-on-year (YoY) decline compared to 920,518 units during the same period in 2023.

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