Indonesia Feb vehicle sales nearly double - Toyota

JAKARTA, March 6 (Reuters) - Indonesian vehicle sales likely nearly doubled to 46,000 in February from a year ago, helped by higher consumer demand driven by low interest rates, an industry official said.

Jodjana Jody, head of sales at Toyota Astra Motor, told Reuters late on Wednesday that Toyota (7203.T: Quote, Profile, Research, Stock Buzz) sold 16,183 vehicles last month, double the volume in the same period last year.

Toyota Astra Motor is the distributor of Toyota cars in Indonesia.

The Indonesian automotive sector is recovering from a slowdown in 2006 following a government decision to increase domestic fuel prices sharply in October 2005.

Indonesia's central bank gradually lowered its benchmark interest rate, known as the BI rate BIPG, to 8 percent in January from 12.75 percent in early 2006. Most vehicle purchases in Indonesia are financed by loans, making sales sensitive to interest rates.

Analysts and industry experts had said they expect vehicle sales this year could reach between 500,000-550,000 units, compared to 434,449 units in 2007. (Reporting by Harry Suhartono, editing by Ed Davies)