Dream - PT Mirae Asset Sekuritas Indonesia predicts that the currently unfavorable automotive industry can improve in the fourth quarter of 2024. This is in line with the potential improvement in people's purchasing power and the decrease in Bank Indonesia's benchmark interest rate.

The purchasing power of the community has also decreased, as reflected in the sales figures of new cars which dropped by more than 23% to around 215,000 vehicle units in the first quarter of 2024 from the same period last year, around 282,000 units.

Although it could improve in the fourth quarter of 2024, Christopher predicts that the performance throughout 2024 will not be as good as last year, one of which is from the side of new car sales throughout this year which is predicted to be only 900,000 units, below the market prediction of 1.1 million units.

Research Analyst Mirae Asset, Abyan Habib Yuntoharjo, added that the used car industry is still growing despite the new car sales figures being under pressure.

The following is reflected in the automotive financing figures which continue to grow steadily above 10%, despite the decline in vehicle sales, especially passenger cars, since the end of 2023 until early this year.