Suzuki sold 72,600 cars in the first seven months of 2015, behind rivals Toyota, Daihatsu and Honda. (Antara Photo/Zarqoni Maksum)

Automotive Financier Mandiri Tunas Books Rp 262b in Loans at Motor Shows


SEPTEMBER 05, 2015

Jakarta. Mandiri Tunas Finance, an automotive financing firm under state-controlled Bank Mandiri, disbursed as much as Rp 262 billion in new financing through two of the nation’s largest automotive expos last month, despite slowing automotive sales across the country.

Harjanto Tjitohardjojo, marketing director of Mandiri Tunas Finance, said that the firm received 1,446 applications from visitors to the Gaikindo Indonesia International Auto Show (GIIAS) and the Indonesia International Motor Show (IIMS). Both events were held in Jakarta in the period Aug. 20-30.

“We disbursed about Rp 260 billion in new car financing and Rp 2 billion for large motorcycles at the IIMS and GIIAS. Last year, we only booked Rp 60 billion from both conventions,” Harjanto said in Jakarta recently.

“We had hoped that the GIIAS and IIMS would help the company reach our new financing target,” he added, noting that the automotive financier has targeted to reach up to Rp 20 trillion in new financing by the end of the year.

As of July, Mandiri Tunas Finance booked Rp 23.6 trillion in total outstanding financing, up 28 percent year-on-year. New financing at the firm grew 9 percent to Rp 7.8 trillion.