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