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Indonesia car sales rise 228 percent in May

Indonesia’s car sales jumped by 228 percent year on year in May 2021, while that of motorcycles increased 277 percent on an annual basis, according to Coordinating Minister for Economic Affairs Airlangga Hartarto.
Jakarta (VNA) – Indonesia’s car sales jumped by 228percent year on year in May 2021, while that of motorcycles increased 277percent on an annual basis, according to Coordinating Minister for Economic Affairs AirlanggaHartarto.

The rise was thanks to the reduction of Luxury GoodsSales Tax (PPnBM) on some motorised vehicles since March.

Since March 1, Indonesia has applied 551 million USD worthof tax preferential policies on automobile and housing in a bid to speed upeconomic recovery, including 2,990 billion rupiah for automobile PPnBM tax cut.

Accordingly, the PPnBM tax was cut by 100 percent from Marchto May and 50 percent from June to August and 25 percent from September toNovember.

The PPnBM tariff for 4x4 vehicles has been cut to 25percent from April to August and will be down to 12.5 percent from September toDecember.

The policy covers 29 automobile models, which are producedby six manufacturers of PT Toyota Motor Manufacturing Indonesia, PT AstraDaihatsu Motor, PT Mitsubishi Motors Krama Yudha Indonesia, PT Honda ProspectMotor, PT Suzuki Motor Indonesia, and PT SGMW Motor Indonesia./.
VNA
#Indonesia’s car sales #Luxury Goods Sales Tax (PPnBM) #Indonesia #PT Toyota Motor Manufacturing Indonesia #Vietnam #Vietnam news #Vietnam News Agency Indonesia
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