Indonesia June car sales rise 45 pct y/y to record high

JAKARTA, July 16 (Reuters) – Indonesia’s domestic car sales rose 45 percent in June from a year ago to a monthly record of 101,743 cars, the Indonesian Automotive Industry Association (Gaikindo) said on Monday.

The figure compared to year-on-year growth in May of 56.5 percent. Sales volumes were up 6.5 percent on a monthly basis, after authorities imposed a new down payment requirement which came into effect on June 15.

Car sales, an indicator of private consumption in Southeast Asia’s biggest economy, are being driven by a growing middle class and record low interest rates.

In the first six months of the year sales volumes reached 535,270 cars, said the association, which said Toyota, Daihatsu and Mitsubishi led sales.

Bank Indonesia on Thursday said bank loans in May grew 26.3 percent with consumer loans up 20.3 percent against 20.5 percent in April.

Below is a table of car sales in 2011/2012 according to Gaikindo:

 Month    Volume    m/m   y/y
          (cars)         
 Jun     101,743    6.5  45.0
 May      95,541    9.7  56.5
 Apr*     87,079   -0.7  43.5
 Mar*     87,761    1.7   7.0
 Feb*     86,482   13.2  24.3
 Jan*     76,442   -4.8   3.3

 Dec      80,325   18.7  14.7
 Nov      67,655  -21.6  -2.3
 Oct      86,345    8.2  24.8
 Sep      79,832    8.9  62.4
 Aug      73,279  -17.7  13.2
 Jul      89,056   26.9  23.5
 Jun      70,154   14.9  -0.3

*official revisions

(Reporting by Rieka Rahadiana; Editing by Matthew Bigg)

Source: http://in.reuters.com/article/2012/07/16/indonesia-economy-auto-idINJ9E8CJ02620120716