Indonesian CV market rebounds across almost all market segments
By Will Pulson - 13th October 2022
The Indonesian market for commercial vehicles over 2 tons gvw continued to rebound in the second quarter of 2022, by over 26% to 33,990 units from 26,921 units a year earlier, based on data released by industry association Gaikindo.
The country’s economy expanded by a better than expected 5.4% year-on-year in the second quarter after growing of just over 5.0% in the previous quarter, driven by strong private consumption and higher exports. The domestic economy benefited from the reopening of the international tourism sector in April, helping to drive up consumer spending growth to 5.5% from 4.4% in the previous quarter. By contrast, government spending declined by 5.2% after falling by 7.6% previously.
