Indonesia's Astra sees record vehicle sales this year

15:16, June 08, 2010      

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Indonesia's largest automotive distributor PT Astra International said it expected record high vehicle sales this year as low interest rates spurred consumer demand, a media reported here Tuesday.

Demand for cars picked up in the first three months of this year, according to data from industry. The central bank has held interest rate to record low of 6.5 percent since August last year and economic growth pick up.

The firm expected the car sales this year to reach a record 650, 000 units, or 34 percent higher than that of 2009.

Astra's vehicle sales through May this year have reached 299, 000 units, up 77 percent from a year ago as consumer confidence has recovered from the financial crisis, president director of the firm Prijono Sugiarto was quoted by the Jakarta Globe as saying.

"We will probably hit 650,000 units without any tax implemented whatsoever. If we are lucky, we will hit 700,000," Prijono said on Monday.

The firm said that Indonesia stood to attract more overseas investment from automakers, particularly due to political instability in regional car manufacturing hub Thailand.

Its previous record year was 2008 when it sold 608,000 units. The higher forecast depended on the government not raising road tax or car registration tax this year, Prijono added.



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