Indonesian sales of CVs grew strongly in Q4 and during the full year of 2018
By Jim Gibbins - 1st March 2019
Indonesia - The Indonesian market for commercial vehicles over 2 tons gvw continued to rebound in the fourth quarter (Q4) of 2018, with sales rising by over 20% to 49,018 units from 40,669 units a year earlier, based on AsiaMotorBusiness analysis of industry data.
The continued strong market growth came as GDP growth remained in a narrow range at just below 5.2% in the fourth quarter, with full-year growth also at just under 5.2% - slightly higher than 5.1% in the previous year. Growth has been underpinned increasingly by private consumption, despite a series of interest rate hikes by the central bank last year which lifted the benchmark rate to 6.0%.
