Indonesia car survey: overcoming barriers of car purchase
Oct 08, 2024
Demand for passenger cars is declining The Indonesian automotive market in 2024 presents both
Indonesia car survey: overcoming barriers of car purchase
The Indonesian automotive market in 2024 presents both challenges and opportunities for automakers. Car sales in Indonesia have experienced a significant decline in 2024, with a 12% decline in consumer sales from January to August compared to the same period in 2023 based on the data from Gaikindo (the association of Indonesia automotive industries). This downward trend of car purchase highlights the weakening demand in the automotive sector, which could be influenced by various economic factors. The shrinking sales figures reflect growing challenges for both manufacturers and dealers in Indonesia.
While a recent Cimigo survey with 308 respondents reveals several barriers to car purchase, it also highlights key areas where brands can adjust their strategies to better align with evolving consumer needs.
The Cimigo survey reveals that 42% of respondents do not intend to purchase car within the next year. This trend is particularly pronounced among Gen X, where 46% of individuals have no plans to buy a car, followed by 43% of Gen Y and 37% of Gen Z respondents.
Additionally, 37% of respondents remain undecided about making a car purchase. This indecision is relatively consistent across generations, with Gen Z at 39%, Gen Y at 35%, and Gen X at 37%.
For those who already own a car but do not plan to buy another, several hurdles were identified in the survey. However, these barriers also point to opportunities:
Car non-owners also face their own set of challenges when considering purchasing a car. Automakers can focus on solutions to these hurdles to convert non-owners into buyers:
Despite the challenges highlighted by the Cimigo survey, there are clear opportunities for automakers willing to adjust their strategies. Older generations like Gen X are already primed to buy, and the undecided 37% of respondents represent a valuable group that can be persuaded with the right mix of product features, pricing, and incentives.
The key to overcoming barriers in car sales may lie in affordability, lifestyle alignment, and innovation. By crafting solutions that address these concerns, automakers can position themselves to succeed in a changing market.
Indonesia car survey: overcoming barriers of car purchase
Oct 08, 2024
Demand for passenger cars is declining The Indonesian automotive market in 2024 presents both
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