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Business & Politics - Category Archive

Business News from Brunei, Cambodia, Indonesia, Laos, Malaysia, Philippines, Singapore, Thailand and Vietnam…

Nov 24

Higher Fuel Price affecting Indonesia’s Auto Market

Filed under Asia News, Southeast Asia, Business & Politics

Jakarta Traffic (Point: Auto)Indonesia’s petrol-price hike could put the brakes on the speed at which consumers in Southeast Asia’s biggest auto market buy cars and switch to four-wheels from two.
President Joko Widodo last week cut subsidies and raised gasoline prices more than 30 percent to open the way for budget and other reforms.
In the long-term, the change should strengthen the Indonesian economy, now growing at its slowest pace in five years. In the short-run, it may impact auto sales.
Next year “car sales probably won’t grow,” said Leonardo Henry Gavaza, a senior research manager at Bahana Securities. “Motorbike sales will be more resilient.”
Growth rates have been declining since 2010’s stunning 58 percent rise. January-October saw only a 1.8 percent increase for a year earlier, reflecting how annual economic growth has slipped to 5 percent.


All entries filed under Business & Politics

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