Indonesia’s CV market bounces upwards in Q3 after sharp decline in 1H/2024
By Jim Gibbins - 9th January 2025
Indonesia - The Indonesian market for commercial vehicles over 2 tons gvw expanded by 12% to 34,394 unit in the third quarter of 2024, compared with a year earlier when volumes plunged by 27% to 30,664 units, based on wholesale data collated by local industry association, Gaikindo.
Overall economic growth in the country moderated slightly to 4.95% year-on-year in the third quarter from 5.05% in the second quarter, as the country waited for the inauguration of newly elected Prabowo Subianto in August. Government spending accelerated to 4.6% in the third quarter from 1.4% in the second quarter, while fixed investment growth came in stronger at 5.2% versus 4.4% - supported by new infrastructure projects including construction of the new capital city Nusantara.
