Indonesian car exports saw positive growth at the beginning of the second half of 2024, with a notable increase in July. According to data from the Association of Indonesian Automotive Industries (Gaikindo), the export of domestically manufactured vehicles, categorized as completely built-up (CBU), rose by 4.7% month-on-month, from 38,569 units in June to 40,401 units in July 2024. However, when compared to the same period last year, there was a slight decline of 5%, down from 42,848 units. This growth is attributed to increased shipping activities from major manufacturers like Toyota and Daihatsu, which saw a 22% rise, as well as contributions from Hyundai, Suzuki, Isuzu, and Wuling. Additionally, the export of completely knocked-down (CKD) units surged by an impressive 88.4% month-on-month, reaching 5,796 set units in July, the highest figure recorded in 2024. This marks a significant improvement from July 2023, when CKD exports reached only 4,768 units.
Furthermore, the export of automotive components also showed strong performance, increasing by 26.3% compared to the previous month, totaling 17.5 million pieces. Year-on-year, the growth in component exports was even more substantial, rising by 71% from 10.3 million pieces in 2023. This robust performance was largely driven by contributions from leading manufacturers like Toyota, Honda, and Suzuki. This overall positive trend in automotive exports highlights Indonesia's growing role in the global automotive market, despite minor year-on-year fluctuations.
