The Indonesian market for commercial vehicles over 2 tons gvw reversed sharply in the third quarter of 2023 after two years of strong growth.

Sales of commercial vehicles over 2 tons gvw in East Asia’s seven main markets, excluding China, declined by over 8% to 326,720 units in the third quarter of 2023.

The two companies have signed a memorandum of understanding (MoU) to make available locally-produced electric trucks in the Indonesian market under the NTBK brand.

KTB of launches Fuso's latest eCanter truck model in Indonesia.

The Indonesian market for commercial vehicles over 2 tons gvw continued to grow in the second quarter of 2023, albeit at the much slower pace of 5% following a 26% jump in the same period of last year.

Sales of commercial vehicles over 2 tons gvw in East Asia’s seven main markets, excluding China, declined by almost 9% to 308,421 units in the second quarter of 2023 from 338,668 units.

Indonesia is Fuso’s biggest overseas market and both factories in Jakarta have contributed significantly to the growth of the Fuso brand outside of Japan.

VKTR raises IDR 875bn (USD59m) through the floatation of 20% of its equity on the country’s main IDX exchange.

The Indonesian market for commercial vehicles over 2 tons gvw grew by 16% to 46,811 units in the first quarter of 2023 from 40,349 units in the same period of last year, as the domestic economy continued to recover from covid-related lockdowns.

Sales of commercial vehicles over 2 tons gvw in East Asia’s seven main markets, excluding China, fell by over 2% year-on-year to 372,543 units in the first quarter of 2023 after growing just 1.6% to 364,641 units in the fourth quarter of last year.

Indonesia is the world’s largest producer of palm oil and the government is keen to promote bio-diesel with 35% vegetable oil as a mainstream fuel in the country.

Medium sized truck market remains largest segment overall in Indonesia.