RI's EV Sales Show Promise, Yet Dependence on Incentives Remains High

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Summary

The Indonesian Automotive Industry Association (Gaikindo) released the sales data for Battery Electric Vehicles (BEVs) in January 2024, revealing a remarkable 690 percent year-on-year increase. According to Gaikindo's data, wholesale BEV sales in January reached 2,355 units, compared to 298 in January 2023. The BEV market share in January 2024 accounted for 3.3 percent of the total national automotive market.

However, when analyzed month-to-month, BEV sales in January 2024 experienced a 27 percent decline compared to December 2023, which saw sales of 3,190 units. Despite this decrease, Gaikindo remains cautious about predicting BEV sales for 2024. "Projection is still challenging; it could follow last year's pattern, increasing and then declining due to sensitivity to economic developments. While there are incentives, purchasing power remains constrained," Gaikindo's Secretary-General, Kukuh Kumara, stated on Feb 27.

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