Indonesia's new car sales hit nearly 930,000 units in 10 months

Association of Indonesian Automotive Manufacturers (Gaikindo) said that the number of car sales reached 923,132 units in the first 10 months, or increased 3. 2 percent from the same period last year, local media reported Friday. Vehicle's sales rose to 106,807 units in October or increased 4. 5 percent from last month. According the Jakarta Globe, car sales, a key element of consumer spending, hit record 102,512 units in July and then slowed in August due to fewer working days of Moslem Idul Fitri holiday. An executive at Gaikindo, Jongkie D. Sugiarto, said the association was eyeing a record 1.1 million sales by the end of the year. Sales from Indonesia's largest automotive company, Astra International, jumped 14 percent to 53,764 cars in October, the sales lead by Toyota and Daihatsu models. Meanwhile Honda Prospect Motor booked a stellar sales of 9,187 units last month or jumped 128 percent from October last year. And sales of Suzuki Indomobil Motor rose 68 percent to 15,655 units. The Central Statistics Agency (BPS) reported Indonesia's economy expanded at 6.2 percent growth rate in third quarter from the same period last year. But it slower than 6.4 percent in second quarter.