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Indonesia still the biggest automotive market in ASEAN

According to ASEAN Automotive Federation, from January to September 2024, there is 2.276.702 vehicles sales for both of passenger and commercial vehicles segment. Indonesia, still the biggest automotive market with 633.218 units sold or 27.8% contribution. Malaysia is runner up with 594.037 units sold with 26.1% contribution while Thailand achieves 438.303 units sold or 19.3% contribution

Philippines is next with 344.307 units sold or 15.1% contribution while Vietnam with 225.583 units sold or 9.9% contribution followed by Singapore with 37.988 (1.7% contribution) and Myanmar with 3.266 (0.1% contribution)

With many big auto show like Gaikindo Indonesia International Auto Show (GIIAS) – Tangerang, Surabaya, Bandung, Semarang, Indonesia International Motor Show (IIMS) – Jakarta and Surabaya, Gaikindo Jakarta Auto Week, tax incentive and automotive friendly ecosystem,  we hope Indonesia will defend its title as the biggest automotive market in ASEAN, because it will attract new investor and encourage current investor to expand its investment, as logically, the bigger market will drive better opportunity and will attract more investor.

The great example is always Toyota and Daihatsu, as two titans that already invest huge investment for many decades in Indonesia, even already pledges to invest more in Indonesia, produce more Made in Indonesia vehicles, provide more local content – Toyota and Daihatsu at this moment already beyond requirement for local content in Indonesia, also has comprehensive research and development  – perfectly what Indonesian really expect. Everyone agree that Indonesia doesn’t want to be target market, but want to be production hub, Indonesia hope OEM to provide more local content and research and development activity in Indonesia, that’s why Indonesian government want OEM to have at least 80% local content by 2030 and urges OEM to build research and development center in Indonesia as well as manufacturing facility. Indonesia expect end to end investment in Indonesia.  

So, Success, automotive industry in Indonesia!