The performance of completely built-up (CBU) car exports remains positive with continuous growth throughout January to August 2023. According to data from the Indonesian Motor Vehicle Industry Association (Gaikindo), CBU car exports reached 337,312 units during January to August 2023, an increase of 18% compared to the same period last year when 285,933 units were exported. The performance of CBU car exports in Indonesia is always controlled by the principals or the headquarters of each brand, making it difficult to determine projections. Gaikindo has set a target for CBU car exports to reach 500,000 units throughout 2023. During the opening of the 2023 GIIAS exhibition, Coordinating Minister for Economic Affairs Airlangga Hartarto mentioned the relatively small increase in car export targets in 2023. Airlangga, who is also the Chairman of the Golkar Party, considered the target of 500,000 units this year to be relatively small. This is because Indonesia was able to export 470,000 units of vehicles in 2022.
In terms of export performance during January to August 2023, PT Astra Daihatsu Motor (ADM) led the export market by sending 109,501 vehicle units, an increase of 13.7% year-on-year (YoY) from 96,270 units. The increase in shipments abroad is due to high demand. According to her, the average export demand from several Daihatsu destination countries has increased. However, she mentioned that there are currently no plans to expand export destinations. The presence of new competitors has intensified competition in the Philippine market, thereby reducing the volume of CBU Traga exports. The factor that caused the decrease in exports is the presence of new competitors in the Philippines, resulting in market competition. The largest export market for us is the Philippines, so it has an impact on the export volume.
