Indonesia's automotive component manufacturers are experiencing a positive outlook as the country's motor vehicle industry shows promising growth in 2023. The Indonesian Automotive Industry Association (Gaikindo) has revised its projection for national car sales to 1,050,000 units, while the Indonesian Motorcycle Industry Association (AISI) has adjusted its motorcycle sales projection to 5.6 million to 5.8 million units. This increase in targets is seen as a reflection of an improving automotive market. Companies like PT Astra Otoparts Tbk (AUTO), PT Dharma Polimetal Tbk (DRMA), and PT Selamat Sempurna Tbk (SMSM) are optimistic about the rising demand for automotive components, both in the original equipment manufacturer (OEM) and aftermarket segments. They aim to capitalize on the growing market and enhance their manufacturing performance.These manufacturers emphasize the significance of the domestic market and the potential for export opportunities. The companies are adapting their strategies to meet the demand for components in the automotive sector, including electric vehicles. While acknowledging the challenges posed by fluctuating prices of raw materials and currency exchange rates, the manufacturers remain focused on efficiency and maintaining stable profitability. Overall, the revised sales projections for vehicles are expected to have a positive impact on the automotive component industry in Indonesia.
Tuesday, 11 July 2023 05:12
Automotive Component Manufacturers Benefit from Increased Motor Vehicle Sales Targets
