Indonesia's auto sales slowed sharply in May
JAKARTA, June 14 (Reuters) - Growth in Indonesian auto sales dropped in May from the previous month due to a labour strike which disrupted production, industry data showed on Friday. A total of 99,568 vehicles were sold in Southeast Asia's biggest economy in May, up 4.2 percent from a year ago compared to April's 17.3 percent rise. However, sales fell 2.6 percent on a monthly basis. The lower growth also comes ahead of expected fuel price increases. In May, Toyota Motor Corp, Daihatsu Motor Co Ltd and Mitsubishi Motors Corp led the market. Auto sales are an important indicator of domestic consumption, which accounts for about 50 percent of the G20 economy. The central bank on Thursday unexpectedly hiked its benchmark rate by 25 basis points to 6 percent on rising concern over inflation expectations. Following is a table of auto sales in 2012-2013, based on Gaikindo data. Month Volume m/m y/y (cars) pct pct May 99,568 -2.6 4.2 Apr* 102,198 6.5 17.3 Mar* 95,934 -7.1 9.1 Feb* 103,267 6.8 19.4 Jan* 96,703 8.1 26.5 Dec 89,456 -13.7 11.4 Nov 103,703 -2.9 53.3 Oct 106,754 4.6 23.6 Sep 102,100 33.6 27.9 Aug 76,445 -25.4 4.3 Jul 102,511 0.8 15.1 Jun 101,746 6.5 45.0 May 95,541 9.6 56.5 *official revisions (Reporting by Nilufar Rizki; Editing by Jonathan Thatcher and Sanjeev Miglani)
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DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.