Indonesia car sales hit record high as Nov sales jump 53.3 pct y/y

Tue Dec 11, 2012 11:49pm EST

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JAKARTA, Dec 12 (Reuters) - Indonesia's domestic car sales
hit a record high of 1 million vehicles so far this year after
103,699 were sold in November despite higher downpayment
requirements, industry data showed on Wednesday.
    Indonesia sold 1.02 million cars as of November and is
likely to pass the industry's target of 1.08 million cars for
the year.
    November sales surged 53.3 percent on an annual basis, but
slipped 2.9 percent from October.
    According to data from the Indonesia Automotive Industry
Association (Gaikindo), sales were led by Toyota Motor Corp
, Daihatsu Motor Co Ltd and Mitsubishi Motors
Corp.
    About 24 percent of total sales during the first 10 months
of the year were in the capital, Jakarta, the data showed.
    Car sales, an indicator of domestic consumption, are
supported by a growing middle-class and relatively low interest
rates.
    Bank Indonesia on Tuesday kept its benchmark rate steady at
5.75 percent due to low and manageable inflation, as well as
robust economic growth.
    The G20 economy posted 6.2 percent growth in the third
quarter, driven by buoyant domestic consumption and investment.
    Following is a table of car sales in 2011-2012, based on
Gaikindo data.
 Month     Volume    m/m    y/y
           (cars)         
 Nov      103,699   -2.9   53.3
 Oct*     106,744    4.6   23.6
 Sep*     102,113   33.6   27.9
 Aug       76,445  -25.4    4.3
 Jul      102,512    0.8   15.1
 Jun      101,746    6.5   45.0
 May*      95,541    9.6   56.5
 Apr       87,145   -0.9   43.5
 Mar*      87,918    1.7    7.0
 Feb*      86,485   13.2   24.3
 Jan       76,427   -4.9    3.3
                               
 Dec       80,325   18.7   14.7
 Nov       67,655  -21.6   -2.3
   * official revisions

 (Reporting by Rieka Rahadiana; Editing by Matt Driskill)
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