Automotive Manufacturing Business Indonesia Automotive SalesDec 04 2023 News
Lastly, the weak rupiah (which had been weakening since mid-2013 amid the US taper tantrum) made imports dearer. Given that many automotive elements nonetheless have to be imported hence elevating manufacturing prices for Indonesian automotive manufacturers, value tags on automobiles turned more expensive. However, because of fierce competition in the home car market not always have producers and retailers been capable of cross these costs on to end-users. The LCGC has turn out to be a very popular car in Indonesia and now contributes almost 25 percent to total domestic automotive gross sales. Considering the nation’s per capita GDP continues to be beneath USD $4,000, affordability is usually an important issue for Indonesian shoppers when buying a automobile, and this is able to explain customers’ shift to the LCGC.
When these LCGC cars were launched they, generally, had a price tag of round IDR a hundred million (approx. USD $7,500) …Read More