{"id":110164,"date":"2021-03-30T11:52:15","date_gmt":"2021-03-30T11:52:15","guid":{"rendered":"https:\/\/icrowdnewswire.com\/?p=2856719"},"modified":"2021-03-30T11:52:15","modified_gmt":"2021-03-30T11:52:15","slug":"the-future-of-indonesian-automotive-industry-post-covid-19","status":"publish","type":"post","link":"https:\/\/ipsnews.net\/business\/2021\/03\/30\/the-future-of-indonesian-automotive-industry-post-covid-19\/","title":{"rendered":"The Future of Indonesian Automotive Industry Post Covid-19"},"content":{"rendered":"

One year after the first confirmed coronavirus case was reported in China in December 2019, the Covid-19 pandemic remains to hurt many sectors, including the automotive industry.<\/p>\n

The adverse impact of the disease is not different in Indonesia. The country is, in fact, one of the most-affected nations by the Covid-19. Indonesia recorded the first two people tested positive for the novel virus in early March 2020. Since then, the number of infected people has soared tremendously. By March 2021, Indonesia had reported more than 1.47 million Covid-19 related cases, and the death toll had risen to near 40,000.<\/p>\n

\"\"<\/p>\n

Figure 1: The total Coronavirus cases in Indonesia (Source: worldometers.info)<\/strong><\/p>\n

Coronavirus has taken its toll on every aspect of life in the country. The automotive industry is no exception. Due to the business restrictions and strict lockdown regulations caused by the pandemic, most dealers had to close their doors. Vehicle registration services were forced to shut down temporarily. Many chose to stay at home for the rising concerns of exposure to the deadly virus.<\/p>\n

As anticipated, the total volume of car sales across Indonesia witnessed a sharp decline. According to the Association of Indonesian Automotive Industries (GAIKINDO), domestic car sales in 2020 plunged by 48.35 percent to 532,027 units from around 1.03 million units in 2019. In particular, the month of January recorded the highest volume of sales with 80,435 units sold. Meanwhile, the highest-selling body types involved sedans, the 4×2, and the 4×4. In terms of best-selling brands, the Japanese auto giant Toyota continued to secure the first position in the four-wheeled sales chart.<\/p>\n

One year after the first confirmed cases, the number of Covid-19 cases remains very high. In the attempt to fight against the pandemic, the industry players exert their best efforts to flatten the curve. The domestic automotive industry, however, is still being hit hard. In March 2021, the new vehicle market continued to drop by 38%. The vehicle market did not witness any sign of recovery, either.<\/p>\n

Yet, GAIKINDO firmly projects that the Indonesian automotive market will see the light at the end of the tunnel. Coronavirus outbreak has led to some changes in the expectations, behavior, and preferences of the consumers. In the post-Covid age, safety and hygiene will be the uppermost concerns for individuals. As public transportation and shared mobility pose a high risk of getting exposure, personal vehicles are likely to be in such exceptionally high demand.<\/p>\n

Also, buying a car in Indonesia now will not be the same as in the past. People will try to avoid physical contact for fear of contracting the virus. Online shopping will become more popular, even for goods like vehicles. Virtual car selling portals in Indonesia like cintamobil.com<\/u><\/a>\u00a0often come with many good cars for sales at more attractive car prices. Due to the competitive nature, these platforms often give attractive offers and discounts to lure more customers.<\/p>\n

In conclusion, while the pandemic itself is too complicated to predict, the future seems bright for the Indian automotive industry and many other sectors. Moreover, the pandemic is expected to be over soon as the vaccine has been authorized and distributed globally. Meanwhile, many vaccines for the disease are under development. As of December 20, there existed 200 vaccine candidates for Covid-19 across the world. In Indonesia, the Food and Drug Agency (BPOM) approved the usage of AstraZeneca’s COVID-19 vaccine in early March 2021.<\/p>\n

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<\/a>, IPS<\/a>, Wire<\/a><\/p>\n

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The post The Future of Indonesian Automotive Industry Post Covid-19<\/a> appeared first on Financial Market Brief<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

One year after the first confirmed coronavirus case was reported in China in December 2019, the Covid-19 pandemic remains to hurt many sectors, including the automotive industry. The adverse impact of the disease is not different in Indonesia. The country is, in fact, one of the most-affected nations by the Covid-19. Indonesia recorded the first […]<\/p>\n

The post The Future of Indonesian Automotive Industry Post Covid-19<\/a> appeared first on Financial Market Brief<\/a>.<\/p>\n

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