New vehicle sales jump by 15% in March | Sector data
(The Insider Stories) — New vehicle sales in Indonesia extended their recent surge in March despite tighter lending, as domestic consumption strongly rises, wire services report.
Volumes gained more 15% to 99,957 units from 86,817 units a year earlier, according to auto industry association Gaikindo. The rise is despite tighter credit rules including minimum loan downpayments of up to 30% introduced in the conventional finance sector midway through last year and for Shariah banks at the end of the year. First-quarter sales rose more than 18% to 295,912 units, from 249,589 units in the same period of last year.
Gaikindo expects sales to rise only slightly this year, from 1.1 million units last year.
