Hyundai Forecasts February Car Sales to Remain Subdued

KatadataOTO – Entering February 2025, Hyundai sees that car sales have not moved significantly. The South Korean manufacturer estimates the automotive market is still around 60,000 to 70,000 units.

That number is actually not too different from the market average in 2024. However, they are slightly more optimistic about the market conditions in 2025.

“The market in February seems to still be in the range of 60,000 to 70,000 units, or still around last year's average. But going forward, we expect the Indonesian automotive market to continue to increase and could reach over 900,000 this year,” said Fransiscus Soerjopranoto, Chief Operating Officer of PT Hyundai Motors Indonesia to KatadataOTO (03/02).

He revealed that there will be more vehicle orders in February due to the Indonesia International Motor Show (IIMS) 2025. However, the impact of the many new orders will be felt in the following month.

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“The momentum from automotive exhibitions like IIMS and Eid al-Fitr is expected to have a positive impact in the first half of this year,” he added.

He also confirmed that they will prepare a number of sales promos to welcome both moments. Thus, it is hoped that vehicle sales can grow positively.

“Sales programs will be adjusted to the needs of prospective buyers, such as attractive financing programs,” he affirmed.

Gaikindo's Sales Target for 2025

It was previously reported that the Association of Indonesian Automotive Industries or Gaikindo has set a sales target for 2025. They are optimistic that at least 850,000 units can be absorbed by the market, with a potential correction down to 750,000 units but with the chance to rise to 900,000 units.

This is because the automotive industry will also still face challenges. Starting from the implementation of a 12 percent VAT, PKB (Motor Vehicle Tax) surcharge, and BBNKB (Vehicle Title Transfer Fee) surcharge.

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Nevertheless, the government is also providing incentives for the automotive market. Including a 3 percent incentive for hybrid cars.

“This (incentive) will impact the increase in state revenue, both central and regional. It consists of VAT, BBNKB, PKB, corporate income tax, and individual income tax,” said Kukuh Kumara, General Secretary of Gaikindo, quoted from an official statement on Thursday (16/1).