Passenger Cars - Indonesia | Statista Market Forecast

Revenue in the Passenger Cars market is projected to reach US$20.7bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 0.26%, resulting in a projected market volume of US$21.0bn by 2029.
The market's largest segment is SUVs with a projected market volume of US$7.3bn in 2024.
Passenger Cars market unit sales are expected to reach 775.20k vehicles in 2029.
The volume weighted average price of Passenger Cars market is expected to amount to US$26.74k in 2024.
With a vehicle unit sales share of 30.7% in 2024, Toyota is expected to have one of the highest market share in the selected region.
The value market share of the make Toyota in the selected region is expected to stand at 32.6% in 2024.
From an international perspective it is shown that the most revenue will be generated United States (US$605bn in 2024).

The Mobility Market specifically covers newly sold passenger cars, including small, medium, executive, and luxury cars as well as SUVs, minivans, and sports cars. However, motorcycles, buses, trucks, large vans, and light utility vehicles are not included. The market's segmentation is based on several factors, including physical properties (weight, volume, wheelbase) and economic factors (pricing, status, etc.). All key figures shown represent the sales of new cars in the basic configuration in the respective year. Used vehicles are not taken into account, nor is adapted equipment for the new cars sold. The prices and revenues shown as well as the distribution of connectivity, drive types, autonomy levels, and average CO2 emissions are accordingly based on the basic models. Importantly, our focus is solely on the market for newly sold cars, distinct from the broader category of registered cars.

The Passenger Cars market is divided into further markets for small cars, medium cars, executive cars, luxury cars, SUVs, minivans, and sports cars. Additionally, it delves into different car brands, offering a comprehensive view of the market.

Insights are centered on newly sold cars in standard configurations, excluding used vehicles and customizations. Reported statistics align with base vehicle configurations, ensuring a focused understanding of the dynamic passenger car market.

Newly Sold Passenger cars
Sports cars
SUVs
MPVs

Motorcycles, Buses and Trucks
Commercial Vans (included for the U.S. market only)
Pickup trucks (included for the U.S. market only)

The Passenger Cars market in Indonesia has been experiencing significant growth in recent years.

Customer preferences: Indonesian consumers have shown a strong preference for passenger cars, which has contributed to the growth of the market. This can be attributed to several factors, including increasing disposable income, urbanization, and changing lifestyles. As people become more affluent, they are able to afford cars and are increasingly opting for passenger cars as their preferred mode of transportation. Additionally, the growing urban population has led to increased congestion and a need for more convenient and comfortable transportation options, further fueling the demand for passenger cars.

Trends in the market: One of the key trends in the Indonesian Passenger Cars market is the shift towards more fuel-efficient and eco-friendly vehicles. With the rising concerns about environmental sustainability, consumers are becoming more conscious of the impact of their choices on the environment. As a result, there has been a growing demand for hybrid and electric vehicles in the country. This trend is expected to continue as the government introduces policies and incentives to promote the adoption of green vehicles. Another trend in the market is the increasing popularity of compact and subcompact cars. These vehicles are more affordable and fuel-efficient, making them attractive options for budget-conscious consumers. Additionally, their smaller size makes them well-suited for navigating through the congested city streets of Indonesia. As a result, automakers are focusing on introducing more compact models to cater to this growing demand.

Local special circumstances: Indonesia is the largest economy in Southeast Asia and has a rapidly growing middle class. This has created a favorable environment for the Passenger Cars market to thrive. The country's large population and increasing urbanization provide a vast customer base for automakers to tap into. Additionally, the government has implemented policies to support the growth of the automotive industry, such as tax incentives and infrastructure development.

Underlying macroeconomic factors: Several macroeconomic factors have contributed to the growth of the Passenger Cars market in Indonesia. The country's GDP has been steadily increasing, leading to higher disposable incomes and greater purchasing power among consumers. Additionally, low interest rates and easy access to financing have made it more affordable for individuals to purchase cars. The government's focus on infrastructure development, including the improvement of roads and highways, has also made owning a car a more attractive option for Indonesians. In conclusion, the Passenger Cars market in Indonesia is experiencing significant growth due to customer preferences for passenger cars, the shift towards more fuel-efficient and eco-friendly vehicles, the increasing popularity of compact and subcompact cars, local special circumstances such as a growing middle class and government support, and underlying macroeconomic factors such as increasing GDP and infrastructure development.

Data coverage:

The data encompasses B2C enterprises. Figures are based on the sales of new passenger cars. Data on the specifications of the sold vehicles is based on the base models of the respective makes.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use company reports and websites, vehicle registries, car dealers, and environment agencies among other sources. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP and car stock per capita. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, we use the ARIMA model for the Passenger Cars market. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development).

This report presents a comprehensive analysis and additional information on the Mobility market, in a PDF format.

Is the global automotive industry experiencing an economic downturn? High inflation rates and raw material price increases recorded throughout 2022 and 2023 have challenged the industry, impacting consumers’ purchasing power and manufacturers’ production costs and profits. However, while global automobile sales slowed in 2022 due to the impact of the automotive semiconductor shortage, the market has been growing since the pandemic, and is forecast to move closer to its pre-pandemic level in 2023.