Indonesia car sales set new record

Indonesias vehicle sales are expected to touch a record 575,000-600,000 units in 2008 despite a government decision to raise subsidized fuel prices in May, automotive distributor Toyota Astra Motor, jointly owned by Toyota Motor Corp. and Indonesia’s largest automotive distributor, PT Astra International Tbk, said. Analysts and policy makers use sales of vehicles and motorcycles to help gauge economic activity in Southeast Asia’s biggest economy, where consumer spending drives a significant portion of the gross domestic product. The previous record of car sales was 533,900 units in 2005,” said Joko Trisanyoto, marketing director at Toyota Astra Motor. “That estimation is based on the fact that car sales in the January to July period have already reached 353,501 units,” he said. (August 28, 2008)