Jakarta. The Indonesian Automotive Industry Association (Gaikindo) has revised its vehicle sales target for 2024 from 1.1 million units to 850,000 units.

Gaikindo Chairman Jongkie Sugiarto explained that the automotive market, particularly for passenger vehicles, has been sluggish throughout 2024, prompting the downward revision.

"This reduction in the target is based on low sales figures that have not shown significant improvement," Jongkie said on Monday.

According to Gaikindo's data, wholesale car sales in Indonesia reached 72,667 units in September 2024, a decline of 9.1 percent compared to the 79,919 units sold in September 2023. Retail sales (from dealers to consumers) also fell to 72,366 units in September 2024, down 10.6 percent from 80,984 units in the same month last year.

Despite the challenging market conditions, Gaikindo remains optimistic about boosting vehicle sales by the end of the year through various automotive exhibitions. One key event is the Gaikindo Jakarta Auto Week (GJAW) 2024, scheduled to take place from November 22 to December 1, 2024, at the Indonesia Convention Exhibition (ICE) in BSD City, Tangerang.

"Gaikindo is organizing several exhibitions, including GIIAS Bandung, and soon the Gaikindo Jakarta Auto Week, among others. These initiatives are all aimed at stimulating sales," Jongkie added.

From January to September 2024, total wholesale sales amounted to 633,218 units, a 16.2 percent decrease from 755,778 units during the same period in 2023. Meanwhile, retail sales dropped by 11.9 percent year-on-year to 657,223 units, compared to 746,246 units in the first nine months of 2023.