1
NEWS
Indonesia bike sales: down to 6.5 million
Not because demand is on the wane, but rather the tightening of rules governing vehicle finance by some of the nation's biggest lendersAccording to a report in the Jakarta Globe newspaper, the Indonesian Motorcycle Industry Association is forecasting motorcycle sales to shrink by 20 percent in 2012 – from 8.1 to 6.5 million -- as tighter rules surrounding vehicle financing crimp demand.
There were 8.1 million motorcycles sold last year, and around 75 percent of the purchases used loans from banks or multi-finance companies.
But from June, consumers seeking loans to buy motorcycles will have to pay at least 25 percent of the cost up front, as opposed to as little as five percent now. The rules are being introduced to curb excessive lending.
If sales do fall to 6.5 million, it will bring the market back to where it was three years ago.
Read the latest Bikesales Network news and reviews on your mobile, iPhone or PDA at the Bikesales Network's mobile site. Or download the all-new App.
Tags
Share this article
Written byBikesales Staff
See all articlesStay up to dateBecome a bikesales member and get the latest news, reviews and advice straight to your inbox.
Subscribe todayDisclaimer
Please see our Editorial Guidelines & Code of Ethics (including for more information about sponsored content and paid events). The information published on this website is of a general nature only and doesn’t consider your particular circumstances or needs.
Please see our Editorial Guidelines & Code of Ethics (including for more information about sponsored content and paid events). The information published on this website is of a general nature only and doesn’t consider your particular circumstances or needs.
Contact
Advertise with us
Local marketplaces
International marketplaces
Consent
Download the bikesales app
