SINGAPORE: Indonesia is set to overtake Thailand as South-East Asia’s biggest car market as early as this year, driven by an expanding middle class and growing demand for budget, environmentally friendly vehicles, according to company executives and analysts.
Car sales in Indonesia grew 17.8% in March from a year earlier, led by Toyota Motor Corp, Daihatsu Motor Co Ltd and Mitsubishi Motors Corp, data from industry association Gaikindo showed yesterday. This increase is more than double the revised 8.3% year-on-year growth in February. – Reuters
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