Car Production Indonesia to Fall 15% to 1.1 Million in 2015
Production of cars in Indonesia is expected to decline 15 percent (y/y) to an estimated 1.1 million vehicles in 2015, far below the target (1.6 million vehicles) set in the automotive industry roadmap desinged by the Indonesian Industry Ministry. This drop is due to the slowdown in car sales in Southeast Asia's largest economy. Slowing economic growth, which dragged down Indonesia's gross domestic product (GDP) growth to a six-year low, resulted in weakening purchasing power of Indonesian consumers.