Japanese Automotive Mitsubishi Motors Corporation (MMC) recently announced that Indonesia will become the largest market by country in the first quarter of the fiscal year 2021 thanks to government fiscal incentives related to the Covid-19 pandemic. The following is information quoted by Otodiva.com from jakartaglobe.com.
Mitsubishi sells 26.397 units in Indonesia during the company's first quarter period from April to June 2021, represent 11,5 percent share of its global sales, according to local subsidiaries. Sales in Indonesia are dominated by the contributing seven-seater X-pander 49 percent, followed by the Pajero Sport SUV (20 percent) and the L-300 small pickup (23 percent). The X-pander is enjoying the Indonesian government's luxury goods tax exemption issued during the pandemic to help the country's auto industry stay afloat amid sluggish global demand, according to MMC's first quarter financial results seen by The Jakarta Globe.
As a result, Indonesia contributed 54 percent of global X-pander sales in that period. This positive achievement encourages MMKSI to continue to provide the best products and services to consumers throughout the vehicle ownership process, ujar Naoya Nakamura, President Director of MMKSI in his statement.
The Ministry of Finance waives sales tax on luxury goods for three months starting 1 March, in an effort to increase car sales and help the country replenish 0,9 until 1 percentage points to the current year's economic growth rate.
Indonesia is also the largest market for Pajero Sport, contribute 38 percent of global sales volume of models and 50 percent in Indonesia's SUV market share because “successful model change”, according to the report.
The Mitsubishi factory in Indonesia started producing the X-pander and Pajero Sport in 2017. The financial report said Mitsubishi's global sales volume reached 230.000 units in the first quarter, increased 91 percent in sales volume compared to the same period for the fiscal year 2020.
Net sales soared 202 percent be 431,9 billion yen year-on-year, according to financial results. In ASEAN, Indonesia has now surpassed Thailand where Mitsubishi sells approx 11.000 cars in the April-June period.
Car sales volume in Indonesia grew in the first half of this year, as big as 387.873 units or 33,5% higher compared to the same period last year, according to data from the Association of Indonesian Motor Vehicle Manufacturers (Gaikindo).
Toyota remains the dominant market leader in Southeast Asia's largest country by sales volume 120,717 or 31,1 percent of market share. Sister company Daihatsu is in second place with 17,3 percent, followed by Honda (12,7 percent), Mitsubishi (12,3 percent) and Suzuki (10,6%).
