JakartaPost-Oct 17, 2022

The hike in the prices of subsidized fuels early last month has done little to hamper car sales, experts and industrialists say, as eased COVID-19 restrictions have paved the way for growth. According to a report from the Association of Indonesian Automotive Manufacturers (Gaikindo), domestic car sales were up 19 percent year-on-year (yoy) and 3.1 percent month-to-month (mtm) to total 99,986 units in September. PT Honda Prospect Motor marketing director Yusak Billy expressed hope that fuel prices would return to normal “as soon as possible” but acknowledged that solid economic growth in the 5 percent range had contributed positively to the automotive industry. “For us, the limited supply of components due to [the global] shortage of semiconductor chips has greatly affected wholesalers in our distribution network,” Yusak told the Post. “So our focus now is on how to get more component supplies so vehicles can be delivered to consumers as quickly as possible.”  Read more at: https://www.thejakartapost.com/paper/2022/10/16/domestic-car-sales-up-19-in-september-despite-fuel-price-hike.html.