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Indonesia's June auto sales fall 25.7% year on year

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Indonesia's automobile sales in June fell 25.7 per cent from a year earlier, the tenth straight decline on an annual basis, data from industry association Gaikindo showed on Tuesday.

[JAKARTA] Indonesia's automobile sales in June fell 25.7 per cent from a year earlier, the tenth straight decline on an annual basis, data from industry association Gaikindo showed on Tuesday.

However, auto sales rebounded 3.7 per cent on a monthly basis, according to the data. A total of 82,139 cars were sold in Southeast Asia's biggest economy in June.

Toyota Motor Corp led sales, followed by Honda Motor Co Ltd and Daihatsu Motor Co Ltd.

Bank Indonesia had issued a new regulation easing rules for automotive and mortgage lending, taking effect on June 18, to spur economic growth.

Indonesia's central bank has reduced the minimum downpayments consumers have to pay for cars and motorcycles while increasing the percentage of a home price that a buyer can borrow.

REUTERS

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