Indonesia’s Automobile Production Results in YTD June 2022

In the first half of 2022, Indonesia’s automobile production increased 28.0% year-on-year to 658,285 units. The impact of semiconductor shortage was not significant and the reintroduction of the luxury tax cut on automobiles boosted domestic demand, resulting in a 10% increase compared to the same period of 2019. The country’s combined production capacity of automobiles is about 2.15 million units, and the operating rate has recovered to about 60%.