In 2024, the electric vehicle (BEV) market in Indonesia experienced remarkable growth, with wholesale sales soaring by 228.05% compared to the previous year, reaching 5,882 units in the first quarter alone. This surge is attributed to the introduction of new brands and competitive pricing, fueled by the ongoing 1% VAT incentive for electric vehicles. Wuling Motors emerged as a key player, contributing significantly to national sales with 3,807 units sold, highlighting the increasing popularity of electric vehicles in the country. However, concerns arise among manufacturers due to the recent depreciation of the Indonesian rupiah, potentially impacting electric vehicle prices. Many crucial components are still imported, and some brands even import vehicles entirely, complicating the cost structure. Despite this, Gaikindo emphasizes that price adjustments fall under the purview of brand holders, considering various factors and business strategies.

PT Mercedes-Benz Distribution Indonesia (MBDI) reports 16 units sold in Q1 2024, slightly below expectations despite the increased model offerings. MBDI remains confident in the market, particularly the premium segment, with plans to introduce two new models in 2024. However, they acknowledge the rupiah's depreciation affecting import costs for Mercedes-Benz electric vehicles, all of which are CBU models imported directly from Germany. Overall, while the electric vehicle market continues to thrive, challenges persist with currency fluctuations impacting import costs. The industry remains optimistic about future growth opportunities, driven by ongoing incentives and expanding model offerings. Efforts to address pricing concerns amidst currency volatility underscore the importance of strategic planning and adaptation in a dynamic market landscape.

Source: https://amp.kontan.co.id/news/penjualan-mobil-listrik-naik-tajam-pada-kuartal-i-2024