Jakarta. Indonesia’s automotive market rebounded in October 2024, with national car sales reaching 77,191 units, a 6.22 percent increase from the previous month and the highest sales figure recorded this year, according to Astra International’s latest data released Monday. This figure, however, still falls short of the 80,350 units sold in October last year.

Astra International, a major player commanding 56 percent of the market, saw its own sales rise from 40,096 vehicles in September to 43,596 in October. Toyota and Lexus models led Astra’s lineup with 27,211 units sold, followed by Daihatsu with 14,096 units, Isuzu with 2,106 units, and UD Trucks with 183 units.

Other Japanese automakers, however, experienced a decline. Mitsubishi’s sales dropped to 7,900 units from 8,173 in October 2023, while Honda and Suzuki sold 8,633 and 5,491 units, down from 11,938 and 5,990, respectively, in the same month last year.

Meanwhile, Chinese car brands gained traction. Wuling’s sales rose slightly to 2,203 units, up from 2,172 in October last year, while Chery sold 699 units, a notable increase from 208 in October 2023. New entrant BYD, which launched in Indonesia in June, has already sold 11,024 vehicles.

Despite the recent improvement, the Indonesian Automotive Industry Association (Gaikindo) has lowered its 2024 vehicle sales target from 1.1 million to 850,000 units.  Gaikindo Chairman Jongkie Sugiarto attributed the adjustment to weak demand, particularly for passenger vehicles. By October, the industry had sold 710,406 cars, compared to 1.05 million sold last year. 

Research by MarkPlus suggests rising car prices are outpacing household income growth, pushing new vehicles out of reach for many. Over the past decade, car prices have climbed 37 percent, while household incomes increased by just 28 percent, underscoring a growing gap between consumer affordability and market prices.